Family Dollar delays shareholder vote on sale to Dollar Tree to Dec. 23

"Family Dollar said Wednesday that it plans to delay a shareholder vote on its proposed acquisition by Dollar Tree nearly two weeks, to give federal antitrust authorities more time to review the deal," Ely Portillo reports for the Charlotte Observer. The vote is now scheduled for Dec. 23.

"Family Dollar said it expects to receive updated information from the Federal Trade Commission about the agency’s review of the Dollar Tree deal and update shareholders in the first week of December," Portillo writes. In July mostly suburban Dollar Tree bought Family Dollar, a staple of poor rural and urban areas, for $8.5 billion. Dollar General countered with a $9.1 billion hostile takeover bid, but it was rejected. Family Dollar cited anti-trust issues.

Family Dollar said in a statement: “The special meeting has been rescheduled to provide Family Dollar shareholders with sufficient time to review the additional disclosure in advance of the meeting." (Read more)