Walmart plans to acquire smart-TV maker Vizio for $2.3 billion, or $11.50 per share in cash, effecting its shares to increase by three per cent in pre-market trading, Reuters reported on Tuesday.
The proposed purchase of Vizio would be at a premium of 47 per cent to the company’s closing price of $7.82 on February 12. Vizio’s shares surged by about 15 per cent to $10.96 in pre-market trading on Tuesday.
Walmart experienced a 3.9 per cent increase in comparable sales, excluding fuel, for the fourth quarter ended January 31, surpassing LSEG estimates of 2.91 per cent. The retailer’s global e-commerce sales also grew by 23 per cent.
The company expects its consolidated net sales in financial year 2025 to grow between 3-4 per cent, exceeding analysts’ expectations of a 3.4 per cent rise. Additionally, Walmart raised its annual dividend by nine per cent, marking the largest increase in over a decade.
