Family Dollar Adjourns Shareholder Meeting, Extending Buyout Saga

Family Dollar Stores said on Tuesday its special meeting of shareholders was adjourned, after it was determined there were insufficient votes to adopt the merger agreement with fellow discount retailer Dollar Tree Inc. . The meeting was adjourned January 22, to be held at 9 a.m. Eastern in Charolotte, North Carolina. The shares of Family Dollar and Dollar Tree rose 0.2% and 0.8%, respectively, in morning trade. The stock of rival Dollar General Corp. , which has submitted an unsolicited, higher takeover bid than Dollar Tree for Family Dollar, gained 1%.