Walmart set to refile Vizio deal paperwork

FILE - The Walmart logo is displayed on a store in Springfield, Ill., May 16, 2011. (AP Photo/Seth Perlman, File)
FILE - The Walmart logo is displayed on a store in Springfield, Ill., May 16, 2011. (AP Photo/Seth Perlman, File)

Walmart Inc. said this week that it will refile the paperwork for its planned $2.3 billion acquisition of television maker Vizio.

Vizio said in a Securities and Exchange Commission filing that Walmart expected to refile that paperwork today to give antitrust agencies more time to review the proposal.

Walmart's original paperwork was withdrawn on Wednesday, reportedly after informal discussions with the Federal Trade Commission and the Department of Justice.

Walmart and Vizio jointly announced the proposed acquisition in February, with the caveat that the transaction was subject to regulatory clearance and other closing conditions specified in the merger agreement.

Walmart said when the deal was announced that it would benefit Walmart Connect, the Bentonville-based retailer's media company in the United States.

Vizio uses its SmartCast operating system built into its television sets to let users stream movies and other content for free by watching ads. This model gives advertisers another way to reach millions of consumers, the companies said.

Upcoming Events