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Family Dollar shareholders approve sale to Dollar Tree

from Fortune

Family Dollar's shareholders have overwhelmingly approved a $8.5 billion takeover bid by rival discount chain Dollar Tree, a vote that sidelines Dollar General's competing offer. At the vote held in North Carolina, investors holding 74 percent of Family Dollar's total outstanding shares voted in favor of the proposal, an outcome that Chairman and CEO Howard Levine praised. The merger still requires approval from the Federal Trade Commission, and that could come as soon as March. more


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