Family Dollar delays shareholder vote on proposed acquisition by Dollar Tree
MATTHEWS, N.C. (AP) — Family Dollar says it has delayed a shareholder vote on its proposed acquisition by Dollar Tree until January.
The Matthews, North Carolina-based discount retailer held a special meeting Tuesday for shareholders to vote on the deal. But the company says there were insufficient votes and the decision was delayed.
Family Dollar Stores Inc. has been courting multiple buyout offers.
The company agreed this summer to be acquired by competing retailer Dollar Tree Inc. for $8.5 billion. It rejected a $9.1 billion offer from retailer Dollar General, saying the businesses are too similar and they would face antitrust concerns.