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US FTC seeks additional information on Walmart and Vizio's $2.3 bln deal
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US FTC seeks additional information on Walmart and Vizio's $2.3 bln deal
Apr 30, 2024 4:08 AM

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.

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