December 19, 2014 / 4:35 PM / 5 years ago

UPDATE 1-Family Dollar to delay shareholder vote on Dollar Tree deal - CNBC

(Adds comment from Family Dollar spokesman, details, share move)

Dec 19 (Reuters) - Family Dollar Inc will delay a shareholder vote on the potential acquisition by Dollar Tree Inc , CNBC said, citing sources.

Family Dollar will start the shareholder meeting and then adjourn it, CNBC said. (cnb.cx/1zEZqsP)

A Family Dollar spokesman said the special shareholder meeting to vote on the Dollar Tree deal remains scheduled for Dec. 23.

The company had earlier set the meeting for Dec. 11, but postponed it to Dec. 23.

Family Dollar has agreed to be acquired by Dollar Tree for $8.5 billion in cash and stock after twice rejecting higher all cash bids from bigger rival Dollar General Corp, citing antitrust concerns.

Dollar General took its $9.1 billion offer directly to Family Dollar’s shareholders in September.

Dollar General said on Friday it was actively engaged in discussions with the Federal Trade Commission on the number of stores it will have to divest to gain regulatory approval. It did not give further details.

Family Dollar’s shares were down 0.4 percent at $79.15, while Dollar General’s shares were down 1.7 percent at $70.07. Dollar Tree’s shares were down 1 percent at $68.43. (Reporting by Sruthi Ramakrishnan in Bengaluru, Editing by Siddharth Cavale and Don Sebastian)

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