Family Dollar approves Dollar Tree takeover

After multiple, unsolicited bids from Dollar General, Family Dollar shareholders have agreed to a Dollar Tree takeover.

Investors holding 74 percent of Family Dollar's outstanding shares approved the $8.5 billion takeover bid. The takeover still needs approval from the Federal Trade Commission, and that approval could happen as soon as March.

Fortune reports that the combined company is expected to generate annual sales of roughly $18 million, which would place it above Dollar General and in greater competition with Walmart.

The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE

Sign up for The Week's Free Newsletters

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

Sign up