NEW YORK (TheStreet) -- Shares of Family Dollar Stores, Inc. (FDO) are lower by 0.89% to $78.15 in late afternoon trading Wednesday, after the discount retailed postponed the scheduled shareholder vote on its $8.5 billion deal to be bought by Dollar Tree Inc. (DLTR) until December 23, the Wall Street Journal reports.
The discount retailer initially planned to hold a special meeting for the vote on December 11, but has put it on hold as it awaits an update from U.S. antitrust regulators on the number of divestitures the agency will require from Dollar Tree for the merger, the Journal added.
Dollar Tree has said it would be willing to divest as many stores as possible to get the deal done, the Journal noted.
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Charlotte, NC-based Family Dollar operates a chain of more than 7,900 general merchandise retail discount stores in 46 states.
Separately, TheStreet Ratings team rates FAMILY DOLLAR STORES as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation: