Masayoshi Son’s early reveal of a Walmart Inc. deal on Wednesday isn’t the first accidental M&A announcement. But it might be the biggest.
Softbank Group...
Big money: It’s official, Walmart is buying 77 per cent equity in Flipkart for $16 billion, in what is to be the biggest-ever deal in the e-commerce space
Hours before Walmart was scheduled to unveil the largest acquisition in its history, Masayoshi Son, CEO of SoftBank Group, spilled the beans to a roomful of investors and journalists in Tokyo.
Walmart has bid $15 billion for Flipkart Online Services Pvt, which could seal a triumph over Amazon.com Inc., which has been trying to take control of Flipkart with a competing offer.
Experts weigh in on Walmart's likely acquisition of nearly 80% of Flipkart's shares. Flipkart and Ola had earlier sought protectionist policies from the government to combat the influence of global giants.
Walmart is in talks to take a minority stake in Flipkart that could go up to 50 or 60 per cent. While Amazon is pushing hard for deal with Flipkart because Walmart’s money will make competition even more fierce.
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