Justin Sullivan
The Federal Trade Commission is expected to be the regulator that reviews Walmart’s (NYSE:WMT) planned $2.3 billion acquisition of TV maker Vizio (NYSE:VZIO), according to traders, who cited an MLex report that was circulating on Thursday.
The report comes after Walmart (WMT) on Wednesday that it has pulled and will refile its HSR notification for its Vizio deal following informal discussions with the FTC and the Dept. of Justice. Walmart’s HSR notification was withdrawn effective on Wednesday, according to an 8-K filing. The retailer expects to refile on Friday. Upon renewing its filing date, the waiting period under the HSR Act will expire on April 29.
Vizio (VZIO) shares were weaker day, down 0.9% after the filing and following a Dealreporter opinion piece that that argues the Vizio deal appears similar to Amazon’s (AMZN) attempted purchase of iRobot (IRBT), which was terminated on fears that the regulators would block it.
Walmart (WMT) confirmed last month that it was acquiring Vizio (VZIO) for $11.50 per share in cash, which works out to a fully diluted equity value of approximately $2.3 billion.