Dollar Tree Says Deal Delayed, As FTC Reviews
The sale of Matthews-based Family Dollar to its rival Dollar Tree could take longer and require more store closures than the companies previously announced.
Dollar Tree had said it expected to close 300 stores to win federal approval of the deal and allay any concerns about creating a monopoly in some markets. But, in a filing Tuesday, the company says the Federal Trade Commission is reviewing more than 500 stores for possible closure, with more possible.
The company repeats that it still expects regulators to settle on less than 300, but that now looks less like an estimate and more like a bargaining position.
Either number is a small fraction of the 13,000 stores Dollar Tree will own once it completes the purchase of its rival, but the company expects negotiations will delay the deal’s closure by a month—pushing it back to late April.