By Chelsey Dulaney
Family Dollar Stores Inc. has delayed the shareholder vote on
its $8.5 billion sale to Dollar Tree Inc. as the discount retailer
awaits an update on the extent of divestitures U.S. regulators will
require.
Family Dollar said it expects an update by the end of the first
week of December on the divestitures that the Federal Trade
Commission will require from Dollar Tree to get the deal approved.
Family Dollar has pushed back the vote to Dec. 23.
Dollar Tree has said it would be willing to divest of as many
stores as possible--or sensible--to get its deal done, and the
companies amended their merger agreement to reflect that
commitment.
In September, Family Dollar shot down rival Dollar General
Corp.'s $9.1 billion unsolicited offer, saying the antitrust risks
are too high. The two chains run very similar businesses selling a
variety of consumable and household products at a range of prices.
Dollar Tree, by contrast, sells everything at a dollar.
Write to Chelsey Dulaney at Chelsey.Dulaney@wsj.com
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