Vizio slips as FTC seeks more information on deal with Walmart

Vizio Holding

30/04/2024 15:24

** Shares of Vizio  VZIO.N  drop as much as 2.7% to $10.51
early Tues after smart-TV maker discloses U.S. Federal Trade
Commission has asked for additional information from the co and
and Walmart  WMT.N  on their proposed $2.3 bln merger
    ** Lawmakers have sought increased scrutiny from the FTC on
many multi-billion dollar deals that might risk higher prices
and affect consumers
    ** The big-box retailer in Feb announced $11.50 per share
all-cash bid to buy VZIO
    ** VZIO on Tues said both firms expect to "promptly respond"
to FTC's request, and cooperate with the regulator as it
conducts its review of the deal
    ** VZIO shares closed at $7.82 on Feb 12, a day before deal
talks between the firms were first reported
    ** Meanwhile, WMT on Tues said it plans to shut all 51 of
its U.S. health centers over lack of profitability
    ** WMT's shares off 1.3% at $59.46 on the session

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))