Family Dollar - Dollar Tree Merger Closing Pushed Back
The pending merger of Family Dollar Stores and Dollar Tree now appears to be headed toward completion in early July.
Matthews-based Family Dollar and Dollar Tree, based in Chesapeake, Virginia, first announced a merger deal last July. That sparked a takeover battle that included a competing offer for Family Dollar from a third discount chain, Dollar General. Family Dollar shareholders eventually approved the Dollar Tree deal. Dollar Tree has been working with federal regulators to resolve anti-trust concerns. The combined company will have about 13,000 stores, making it the largest dollar store chain in the country. In an earnings report released on Thursday, Dollar Tree said it expects to divest about 330 Family Dollar locations in order to gain merger approval from the Federal Trade Commission. Dollar Tree has pushed back its intended closing date for the deal at least twice. It’s now scheduled for early July.