Family Dollar Becomes Part Of Dollar Tree
Family Dollar will become part of Virginia-based Dollar Tree. The company’s shareholders this morning approved the $8.5 billion deal. The vote ends a months-long struggle for control of Matthews-based Family Dollar.
The company announced the Dollar Tree deal in July, but rival Dollar General made a higher, unsolicited bid to buy the company. Family Dollar’s board expressed concern that the Dollar General deal would not be approved by federal regulators. But the company was twice forced to delay a shareholder vote on the Dollar Tree buyout.
Under the deal, Family Dollar stores will keep their name and the company will maintain a corporate presence in Matthews. The buyout could be complete as early as March. WFAE will have more on this story throughout the day.