SEC filing: Family Dollar shareholders officially approve Dollar Tree deal

The remaining votes have been tallied, and the majority of Family Dollar’s shareholders have officially approved the sale to Virginia-based Dollar Tree.

According to a Securities and Exchange Commission filing Monday, 89 percent of the Matthews-based retailer’s shares approved the proposed $8.5 billion sale to Virginia-based Dollar Tree.

In a special shareholders meeting last week, a preliminary count also showed a majority of shareholders favored the deal, drawing to a close months of uncertainty about the local corporation’s fate and rejecting a hostile, $9.1 billion bid from rival Dollar General.

The two companies next need antitrust approval from the Federal Trade Commision. It’s still unclear how many Matthews employees will lose their jobs and how many stores will have to close, but the companies expect that’ll be fewer than 300 out of a combined 13,000 locations.

Family Dollar’s stock price

This story was originally published January 27, 2015 at 8:54 AM with the headline "SEC filing: Family Dollar shareholders officially approve Dollar Tree deal."