Family Dollar Shareholders Approve Takeover by Dollar Tree
The Great Recession hobbled the U.S. economy and crushed many businesses, but some companies thrived, including the so-called "dollar" stores. Shoppers flocked to them because you could buy a lot with not much money. And as the economy rebounds, people are still going to some. But one chain, Family Dollar, hasn't kept pace with its competitors. Shareholders of Family Dollar voted Thursday to sell to a rival chain, Dollar Tree, for $8.7 billion. In doing so, shareholders left a bigger offer from Dollar General on the table, citing antitrust fears.