Walmart said to acquire 73% of Flipkart valued at $16 billion, Alphabet might pitch in $3 billion

Reports and rumors about Walmart acquiring Flipkart go back to a couple of months where Walmart was said to acquire about 40% of Flipkart. A couple of weeks back, it is again reported that Walmart said to acquire 51% stake in Flipkart. Freshly we hear that Walmart might get hold of 73% of Flipkart valued at $16 billion. Walmart is said to have sealed the deal on May 3rd spending at least $14.6 billion in the cash-and-stock buyout. According to the report, one of the sources said that Flipkart was valued at $20 billion, while other sources said Walmart had put the target company’s value at as much as $22 billion, a price at which it will spend more than $16 billion. In an interesting move, Alphabet, parent company of Google is also said to be participating in the deal with a $3 billion investment. It is also heard that both the companies have signed tentative agreements after meetings. The sources also confirmed that the deal will be a mix of cash and stock as mentioned above, says the report. “Cash component will be close to 55%, which will mark the exit of some of the largest investors in Flipkart,” sources said. As for the investors, some of the friendly investors ...