WALTONS MAKE CHARITY MOVE
WASHINGTON — The Walton family of Wal-Mart took a big step toward infusing some of its massive wealth into its favorite charities Tuesday when the retailer registered 14.7 million of the family’s shares for sale.
The shares, less than 1 percent of Wal-Mart’s common stock outstanding and 2 percent of Walton Enterprises’ 871,273,976 shares, are expected to sell for a maximum of $57.68 each. The sale could generate as much as $848 million.
As reported, the Walton family announced plans in March to register up to 25 million shares for sale. They said then that the shares would be distributed first through the family’s partnership, called Walton Enterprises LP, which represents Helen Walton — the widow of Wal-Mart founder Sam Walton — her four children and their families.