Wal-Mart says Walton family to sell shares to keep lid on stake

April 10, 2015 10:12 PM

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Wal-Mart says Walton family to sell shares to keep lid on stake

(Reuters) - Wal-Mart Stores Inc said the Walton family was putting 6 percent of the retailer's outstanding shares in a newly formed trust for possible sale to offset expected increases in its stake due to stock buybacks and to help fund charitable contributions.

The amount of stock set to go into the trust is worth $15.6 billion at the current price.

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