Family Dollar Shareholders OK Dollar Tree Merger - Quick Facts

(RTTNews) - Family Dollar Stores, Inc. (FDO) said that, based on a preliminary count of the votes cast at the company's Special Meeting of Stockholders held today, Family Dollar stockholders voted to approve the proposed merger with discount stores operator Dollar Tree, Inc. (DLTR).

Based on the preliminary count, nearly 84 million shares were voted in favor of the merger proposal. The favorable vote represents 74% of the total outstanding and 89% of the total shares voted. As of October 30, 2014, the record date for the Special Meeting, there were nearly 114 million shares of Family Dollar common stock outstanding.

The proposed merger remains subject to approval by the Federal Trade Commission. Dollar Tree and Family Dollar would provide the FTC with four weeks' notice prior to closing. Dollar Tree plans to initiate this four-week notice period after it has executed a consent decree with the FTC's Bureau of Competition, which would permit FTC clearance and the closing of the merger as soon as March 2015.