Walmart to refile paperwork on Vizio deal after 'informal' antitrust talks with feds

By Claudia Assis and Bill Peters

Walmart to refile a premerger notification 'in order to give the antitrust agencies additional time to review the proposed transaction'

Walmart Inc. and smart-TV maker Vizio Holding Corp. said late Wednesday that they would refile paperwork related to their proposed merger after the retail giant held "informal" antitrust talks with the Federal Trade Commission and the Justice Department.

Walmart (WMT) in a securities filing said it notified the agencies that it will withdraw and refile a premerger notification "in order to give the antitrust agencies additional time to review the proposed transaction."

The notification was originally sent on Feb. 26, and the refile is expected on Friday.

Shares of Walmart were down a fraction in the extended session Wednesday, and shares of Vizio (VZIO) fell 0.7%.

Walmart in February agreed to acquire Vizio for around $2.3 billion. The retailer and analysts said the move would help Walmart broaden the services it offers to outside advertisers looking to promote what they sell in Walmart stores and online.

That business - known as "retail media" - has become more important to retailers like Walmart and Amazon.com Inc. (AMZN). Macy's Inc. (M) this month said it had named Michael Krans vice president of its media network, which the chain described as an "in-house media publisher" that helps advertisers reach customers.

-Claudia Assis -Bill Peters

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03-27-24 2111ET

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