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.
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.
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Meghan DeMaria is a staff writer at TheWeek.com. She has previously worked for USA Today and Marie Claire.
-
Political cartoons for December 11Cartoons Thursday's political cartoons include sinking approval ratings, a nativity scene, and Mike Johnson's Christmas cards
-
It Was Just an Accident: a ‘striking’ attack on the Iranian regimeThe Week Recommends Jafar Panahi’s furious Palme d’Or-winning revenge thriller was made in secret
-
Singin’ in the Rain: fun Christmas show is ‘pure bottled sunshine’The Week Recommends Raz Shaw’s take on the classic musical is ‘gloriously cheering’
-
US mints final penny after 232-year runSpeed Read Production of the one-cent coin has ended
-
Warner Bros. explores sale amid Paramount bidsSpeed Read The media giant, home to HBO and DC Studios, has received interest from multiple buying parties
-
Gold tops $4K per ounce, signaling financial uneaseSpeed Read Investors are worried about President Donald Trump’s trade war
-
Electronic Arts to go private in record $55B dealspeed read The video game giant is behind ‘The Sims’ and ‘Madden NFL’
-
New York court tosses Trump's $500M fraud fineSpeed Read A divided appeals court threw out a hefty penalty against President Trump for fraudulently inflating his wealth
-
Trump said to seek government stake in IntelSpeed Read The president and Intel CEO Lip-Bu Tan reportedly discussed the proposal at a recent meeting
-
US to take 15% cut of AI chip sales to ChinaSpeed Read Nvidia and AMD will pay the Trump administration 15% of their revenue from selling artificial intelligence chips to China
-
NFL gets ESPN stake in deal with DisneySpeed Read The deal gives the NFL a 10% stake in Disney's ESPN sports empire and gives ESPN ownership of NFL Network
