Walmart To Acquire VIZIO HOLDING For $11.50/Shr Cash

RTTNews | 548天前

(RTTNews) - Walmart, Inc. (WMT) and VIZIO Holding Corp. (VZIO) announced Tuesday they have entered into an agreement for Walmart to acquire VIZIO for $11.50 per share in cash, equating to a fully diluted equity value of approximately $2.3 billion.

The acquisition of VIZIO and its SmartCast Operating System (OS) would enable Walmart to connect with and serve its customers in new ways including innovative television and in-home entertainment and media experiences.

The combination would be expected to further accelerate Walmart's media business in the U.S., Walmart Connect, bringing together VIZIO's advertising solutions business with Walmart's reach and capabilities.

VIZIO's Board of Directors has unanimously approved the transaction, but the transaction is subject to regulatory clearance and other closing conditions.

VIZIO stockholders (including CEO William Wang and his affiliates) holding approximately 89% of the voting power of VIZIO's outstanding common shares have also approved the transaction. No other stockholder approval is required to complete the transaction.

Upon completion of the transaction, VIZIO's Class A common stock will no longer be publicly listed. Walmart expects the transaction to be slightly dilutive to EPS in the near term.

To finance the acquisition, Walmart plans to use cash and/or debt. The transaction is not subject to a financing condition.

Following the completion of the transaction, VIZIO's business will be reported as part of the Walmart U.S. segment.

標籤: WMT VZIO

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