22 February 2024

On February 20th, 2024 Walmart (NYSE: WMT) and VIZIO (NYSE: VZIO) announced they have entered into an agreement for Walmart to acquire VIZIO for $11.50 per share in cash, which reflects a fully diluted equity value of approximately $2.3 billion.

The transaction is subject to regulatory clearance and other closing conditions specified in the merger agreement.

To finance the acquisition, Walmart plans to use cash and/or debt. The transaction is not subject to a financing condition.

Walmart Agrees to Acquire VIZIO HOLDING CORP. to Facilitate Accelerated Growth of Walmart Connect through VIZIO’s SmartCast Operating System

Etalon Capital, Inc. provides independent research with a focus on event-driven value equities to institutional investors. Events include M&As, spin-offs, activist investors, IPOs, SPACs, buybacks, recapitalizations, asset sales, hedge fund holdings, and other significant corporate transactions. These are diversified by sources of risk as well as risk/return profiles. We generate an edge with a unique research process, combining value, focus on corporate events, and story investing principles.