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VIZIO Holding Corp (NYSE:VZIO) shares are trading lower Tuesday after Walmart (NYSE:WMT) received a request for additional information from the FTC regarding its planned merger with Vizio.
What To Know: In February, Vizio entered into an agreement to be acquired by Walmart for $11.50 per share in cash.
On March 25, Walmart held discussions with the Department of Justice (DOJ) and Federal Trade Commission (FTC) and notified the antitrust agencies that it would voluntarily withdraw and refile reports for the merger in order to give the agencies additional time to review the merger. Walmart then refiled the notification and reports on March 29.
In a new regulatory filing, Vizio announced that the company and Walmart received a request from the FTC for additional information in connection with its review of the merger. The second request extends the waiting period until 30 days after both companies have complied with the second request.
Vizio and Walmart said they expect to “promptly respond” to the second request and will continue working cooperatively with the FTC as it continues to conduct its review of the merger.
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Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, in VIZIO Holding's case, it is in the Consumer Discretionary sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
VZIO Price Action: Vizio shares were down 1.39% at $10.65 at the time of publication, according to Benzinga Pro.
Photo: Sundry Photography from Shutterstock.
