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Activist investor Carl Icahn has reported a 9.39 percent stake in Family Dollar Stores, and said he plans to talk to the convenience store operator about strategies, which may include exploration of strategic alternatives. Shares of Family Dollar, struggling under declining sales and profit, rose about 10 percent in extended trading on Friday. Icahn, known for taking big stakes in companies and pushing for management change, said he may seek board representation in Family Dollar.

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