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Walton’s To Get Over 50% Control Of Walmart?
Posted on | June 6, 2011 | Comments Off
With the latest buyback announcement ($15 billion in new share buybacks), it is said that this will put the Walton’s stake in the company over the 50% level. This changes the classification as the company and removes the requirement of an independent board of directors. Walmart has said that they will continue the practice as a sound measure of corporate governance regardless of the Walton stake.
A decade ago, I believe the Walton’s had approximately 38% of the company, but with share buybacks it went up to 48%. The new buybacks should take it to over 50%.
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