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Wal-Mart Founder's Children Sell ~$309 Million In Wal-Mart Shares

Andrew Efimoff

Wal-Mart Stores, Inc. (NYSE: WMT) Founder Sam Walton's children Jim, Alice and Robson each sold over $103.52 million worth of Wal-Mart shares on Wednesday night between $71.2 and $71.8 per share. The complete sale amounted to 4,350,000 shares total, 1,450,000 for each of the three Waltons.

Related Link: Wal-Mart Pay Welcomed In Idaho, Oregon, Washington And New Mexico

Key Events Leading Up To The Sales

The sale came after key events last week:

  • Wednesday, June 29: Visa Inc (NYSE: V) filed counterclaim to Wal-Mart in PIN debit card lawsuit claiming Wal-Mart never told Visa about the elimination of the signature option for debit cards.
  • Wednesday, June 29: Deal with JD.Com Inc(ADR) (NASDAQ: JD) announced Wal-Mart could increase stake in company to 10 percent giving Wal-Mart ovserver status.
  • Monday June 27: Wal-Mart's Snackwell expanded into breakfast category.
  • Friday June 24: Vetr Crowd said Wal-Mart could rise another 4.3 percent.
  • Thursday June 23: Wal-Mart Pay became available in several states.

According to his autobiography, Sam Walton's (founder of Wal-Mart) greatest fear was that his kids would sell their Walmart stock he gave them.

Wal-Mart traded at $72.90, down 0.16 percent in Thursday's After-Market session.

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