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.

fashion-scoops/news

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.

load comments

ADD A COMMENT

Sign in using your Facebook or Twitter account, or simply type your comment below as a guest by entering your email and name. Your email address will not be shared. Please note that WWD reserves the right to remove profane, distasteful or otherwise inappropriate language.
News from WWD
Newsletters

Sign upSign up for WWD and FN newsletters to receive daily headlines, breaking news alerts and weekly industry wrap-ups.

LatestPublications
getIsArchiveOnly= hasAccess=false hasArchiveAccess=false