Family Dollar delays shareholder vote on Dollar Tree deal to January, says votes insufficient

MarketsAssociated Press

Family Dollar says it has delayed a shareholder vote on its proposed acquisition by Dollar Tree until January.

The Matthews, North Carolina-based discount retailer held a special meeting Tuesday for shareholders to vote on the deal. But the company says there were insufficient votes and the decision was delayed.

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Family Dollar Stores Inc. has been courting multiple buyout offers.

The company agreed this summer to be acquired by competing retailer Dollar Tree Inc. for $8.5 billion. It rejected a $9.1 billion offer from retailer Dollar General, saying the businesses are too similar and they would face antitrust concerns.