April 30 (Reuters) - The U.S. Federal Trade Commission
has asked for more information from Vizio ( VZIO ) and Walmart ( WMT )
regarding their proposed $2.3 billion deal, the smart-TV
maker said on Tuesday.
U.S. lawmakers have sought for an increased scrutiny from
the FTC on many multi-billion dollar deals that might risk
higher prices and affect consumers.
Several deals including that of supermarket chain Kroger ( KR )
and its smaller rival Albertsons ( ACI ), as well as
Coach parent Tapestry and Michael Kors owner Capri
have come under the FTC's radar as it looks to
encourage fair, open and competitive markets.
Walmart ( WMT ) had proposed to buy Vizio ( VZIO ) for $11.50 per share in
cash in February, in another bet on the retailer's fast-growing
U.S. advertising business, Walmart Connect, and gaining access
to Vizio's ( VZIO ) SmartCast operating system, which streams
ad-supported content on its devices.
The big-box retailer had said in March it had notified two
U.S. antitrust agencies it would withdraw and refile a certain
review application for its planned acquisition of Vizio ( VZIO ), to give
the regulators more time to review the deal.
Vizio ( VZIO ) said on Tuesday both the companies expect to "promptly
respond" to the FTC's request, while work "cooperatively" with
the regulator as it conducts their review of the deal.