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Walmart Inc (NYSE:WMT) intends to refile documents for its over $2 billion acquisition of Vizio Holding Corp (NYSE:VZIO).
After informal discussions with the Federal Trade Commission and the Department of Justice, Walmart agreed to voluntarily withdraw and refile the Hart-Scott-Rodino (HSR) notification and report form for the merger.
The move is expected to give the Antitrust Agencies additional time to review the proposed transaction.
The parties originally filed their respective notification and report forms on February 26, 2024. Walmart's HSR notification and report form was withdrawn effective as of March 27, 2024, and Walmart expects to refile on March 29, 2024.
According to the renewal of new filing date, the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act will expire on April 29, 2024, at 11:59 p.m., New York City time.
The acquisition of Vizio could bolster Walmart's advertising revenue, providing the retailer with additional funds to invest in faster shipping and other customer services.
Vizio, founded in 2002 and known for its affordable TVs, has expanded into advertising and streaming, offering a new avenue for Walmart to grow its advertising business.
Price Action: WMT shares are trading lower by 0.35% at $60.51 in premarket Thursday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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