Women’s Wear Daily
04.21.2014
fashion-scoops
fashion-scoops

Walton Enterprises' Charitable Move

The survivors of Wal-Mart Stores founder Sam Walton are looking to unload a lot of their stock and do a lot of good.

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Most Recent Articles In Fashion Scoops
Most Recent Articles In Fashion Scoops

GIVING BACK: The survivors of Wal-Mart Stores founder Sam Walton are looking to unload a lot of their stock and do a lot of good. Walton Enterprises LLC, controlled by Wal-Mart chairman Robson Walton and his siblings, intends to transfer more than 70.6 million of its company shares — valued at $4.09 billion at Thursday’s closing price of $57.98 — to charitable trusts, and reimburse the company for any expenses incurred in connection with the registration, offer and sale of the stock. The family’s holdings would drop to about 1.61 billion shares, or about 46.6 percent of those outstanding, from their current level of 1.68 billion, corresponding to about 48.6 percent.

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