Wal-Mart IPO Set the Stage for Global Expansion

In preparation for the IPO, a hodge-podge of ownership interests in different stores was consolidated under one corporate banner: Wal-Mart Stores Inc. The corporation represented the merger of 78 partners that owned pieces of 32 stores, with the Walton family owning a majority stake in each. The stores also were a mixed bag of Wal-Mart Discount City, Ben Franklin, Walton's Family Center and Ben Franklin Family Center.

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