Mon, Aug. 8, 8:37 AM
- Wal-Mart (NYSE:WMT) formally announces it acquired Jet.com for approximately $3B in cash. Part of the payment will be paid over time. Additionally, $300M of Walmart shares will be paid as part of the transaction.
- Both boards have approved the deal.
- The company says the acquisition will build on and complement the significant foundation already in place to serve customers across the Walmart app, site and stores and position the company for even faster e-commerce growth in the future by expanding customer reach and adding new capabilities.
- “We’re looking for ways to lower prices, broaden our assortment and offer the simplest, easiest shopping experience because that’s what our customers want,” says Wal-Mart CEO Doug McMillon.
- News of a potential deal leaked last week.
- Shares of WMT are up 0.43% premarket to $74.08.
- Source: Press Release
Mon, Aug. 8, 2:06 AM
- Wal-Mart (NYSE:WMT) will reportedly announce its $3B purchase of online retailer Jet.com today in what appears to be the largest-ever acquisition of an e-commerce company.
- Under the terms of the deal, Jet co-founder and chief executive Marc Lore will remain at his post and run Wal-Mart's U.S. e-commerce operations.
- Neil Ashe, the executive Lore is replacing, will eventually depart "after a transitional period."
Wed, Aug. 3, 11:32 AM
- Wal-Mart (WMT -0.1%) is in discussions about acquiring e-commerce upstart Jet.com, sources tell The Wall Street Journal.
- The price tag for the Amazon challenger could run as high as $3B. It's unlikely that Jet.com would add to profitability in the near-term for Wal-Mart, but the potential for back-end synergies and Jet.com's significant website traffic are alluring.
- Jet.com is owned by a group of computer scientists and VC backers.
Mon, Jun. 20, 7:05 AM| Mon, Jun. 20, 7:05 AM | 5 Comments
Jul. 23, 2015, 2:26 AM
- Wal-Mart (NYSE:WMT) has taken full ownership of Yihaodian, its Chinese e-commerce venture, buying out the 49% stake that it did not already own to solidify its strategy in the region.
- The investment will help Wal-Mart target China's fast-growing online market at a time when brick and mortar retailers are under pressure and the world's second-largest economy cools off.
Jul. 29, 2014, 12:53 PM| Jul. 29, 2014, 12:53 PM
Sep. 11, 2013, 4:11 AM| Sep. 11, 2013, 4:11 AM | 1 Comment
Aug. 7, 2013, 2:35 AM
- Wal-Mart (WMT) is reportedly considering participating in an auction for Hong Kong supermarket chain ParknShop, which is valued at up to $4B by owner Hutchison Whampoa (HUWHF.PK).
- The deadline for initial offers is August 16, with KKR (KKR) among those invited to bid; Blackstone (BX) has held talks with banks about financing.
- Wal-Mart, which has over 380 stores in China, could use ParknShop as a platform to expand in the country. The latter operates 345 outlets in Hong Kong, mainland China and Macau, and generated revenue of HK$21.7B ($2.8B) last year.
Jul. 15, 2013, 7:19 AM
Loblaw's (LBLCF.PK) C$12.4B ($11.93B) acquisition of Shoppers Drug Mart (SHDMF.PK) will create a company that generates over C$42B a year and comes amid increasing competition from Target (TGT) and Wal-Mart (WMT). "With scale and capability, we will be able to accelerate our momentum and strengthen our position in the increasingly competitive marketplace," says Loblaw Executive Chairman Galen Weston. (PR)| Jul. 15, 2013, 7:19 AM
Mar. 13, 2013, 3:10 AMWal-Mart's (WMT) U.K. unit Asda is in reportedly talks about making a possible bid for music retailer HMV, which entered administration - analogous to Chapter 11 in the U.S. - in January with debts of £170M. The loans are held by restructuring specialist Hilco, putting it in pole position to buy HMV. | Mar. 13, 2013, 3:10 AM
Jan. 6, 2013, 2:45 AM
Flowers Foods (FLO) and Mexico's Grupo Bimbo are reportedly set to be the stalking horse bidders for Hostess Brands' bread ops, which the bankrupt company is likely to sell in at least two groups and which could fetch over $350M. Other possible suitors include Wal-Mart (WMT) and Kroger (KR). Wonder Bread, Nature's Pride, Home Pride, Merita and Butternut are among the brands on offer.| Jan. 6, 2013, 2:45 AM | 7 Comments
Dec. 13, 2012, 3:21 AM
Wal-Mart (WMT) is reportedly in talks to acquire an 80% stake in leading Turkish retailer Migros from U.K. private-equity firm BC Partners in a deal that would value Migros at over $4B including debt. Wal-Mart could face competition, though, with France's Carrefour (CRRFY.PK) and Britain's Tesco (TSCDF.PK) also having shown interest.| Dec. 13, 2012, 3:21 AM
Mar. 14, 2012, 12:05 PM
Wal-Mart (WMT) has talked with struggling British gaming retailer GAME about a possible acquisition, reports industry site MCV. It's added GameStop (GME -1.8%) is also interested in buying GAME, but has been waiting for the company to go into bankruptcy to make a move, though Wal-Mart's overtures could force it to move faster.| Mar. 14, 2012, 12:05 PM
Mar. 9, 2012, 5:29 AM
Wal-Mart (WMT) wins the final go-ahead for its $2.4B acquisition of Massmart after a South African court dismissed an appeal from the government and unions. The ruling ends months of speculation about the future of the deal, which will speed Massmart's sub-Saharan Africa expansion and give Wal-Mart a strong presence in the region.| Mar. 9, 2012, 5:29 AM
Feb. 22, 2012, 12:32 PMSouth African retailer Massmart (MMRTY.PK) says it's going ahead with operational changes under Wal-Mart's (WMT) purchase of a majority stake even though the deal hasn't received a final ruling. The South African government is trying to impose stricter guidelines on the deal, while unions are seeking to have it overturned. | Feb. 22, 2012, 12:32 PM
Jan. 4, 2012, 5:39 PM
Wal-Mart (WMT), never seen as a trendy retailer, is nonetheless stepping up its mobile and social media efforts: the company's @WalmartLabs division announced today it's acquiring mobile app development agency Small Society. The purchase is the division's fourth in the last 9 months; in April, it spent $300M to acquire social media content organizer Kosmix.| Jan. 4, 2012, 5:39 PM