QVC’s parent Liberty Interactive said Monday that it has entered into a definitive agreement to acquire Zulily for $2.4 billion in cash and stock. In a joint statement issued by the companies, they noted that the proposed acquisition will bring two highly complementary businesses under common ownership.
Liberty Interactive to acquire Zulily at 49% premium
The proposed deal envisages Liberty Interactive acquiring all of Zulily’s outstanding shares for $18.75 per share, which is 49% higher than Friday’s closing price. Liberty Interactive will provide $9.375 in cash and 0.3098 newly-issued shares of QVC stock for each Zulily share.
Five-year old Internet retailer Zulily runs daily flash sales of items ranging from maternity clothes...
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