Walmart to Refile Vizio Paperwork to Give FTC More Time to Review $2.3 Billion Deal
By Sabela Ojea
Walmart said it would refile the paperwork related to its $2.3 billion deal to acquire television maker Vizio.
The retail giant expects to refile the paperwork on Friday to give the antitrust agencies more time to review the proposed transaction, Vizio said in a Securities and Exchange Commission filing.
Walmart's decision follows informal discussions with both the Federal Trade Commission and U.S. Department of Justice, which led to the company's voluntary withdrawal notification.
The deal with Vizio would further accelerate Walmart's media business in the U.S. by giving the retailer access to more opportunities to sell advertising through the TVs that Vizio manufactures.
It would also allow Walmart to create entertainment for shoppers, the company said in February.
Walmart's global advertising business grew about 28% to $3.4 billion in the fiscal year ended in Jan. 31.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
March 27, 2024 17:50 ET (21:50 GMT)
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