Walmart Completes Acquisition of VIZIO

VIZIO Holding Corp. (NYSE: VZIO) recently filed an 8-K form with the Securities and Exchange Commission (SEC) on December 3, 2024, announcing the completion of its merger with Walmart Inc. The transaction, which finalized on the same day, involved Walmart’s subsidiary Vista Acquisition Corp. merging with VIZIO, with the latter surviving as a wholly-owned subsidiary of Walmart.

The merger, as detailed in the Merger Agreement dated February 19, 2024, resulted in several significant actions. Each share of VIZIO’s Class A common stock and Class B common stock outstanding prior to the Effective Time was automatically converted into the right to receive $11.50 in cash per share. Additionally, VIZIO Options and VIZIO RSUs were treated according to specific provisions outlined in the Merger Agreement.

Following the merger’s completion, VIZIO notified the New York Stock Exchange (NYSE) of the transaction, requesting the suspension of trading of VIZIO’s Class A Common Stock, withdrawal of the stock from listing on NYSE, and the filing of a notice of delisting and deregistration with the SEC. Consequently, trading of VIZIO’s Class A Common Stock on NYSE was suspended, aligning with the delisting process.

As a result of the merger, VIZIO experienced a change in control and became a wholly-owned subsidiary of Walmart. The total consideration payable to VIZIO’s equity holders totaled approximately $2.3 billion, funded by Walmart through cash reserves. Post-merger, Seth Dallaire was appointed as the sole director of VIZIO, succeeding the directors who resigned from their positions at the Effective Time.

Furthermore, VIZIO’s certificate of incorporation and bylaws were amended and restated in accordance with the merger. The changes align the company more closely with Walmart’s operating structure and strategic objectives moving forward.

In a related event, Walmart issued a press release on December 3, 2024, announcing the completion of the acquisition of VIZIO and highlighting the potential synergies between the two companies. The acquisition aims to introduce innovative customer entertainment experiences and bolster Walmart Connect, the company’s advertising business.

The completion of the transaction marks a significant milestone for both VIZIO and Walmart, with plans outlined for future operations and growth strategies in line with the merger’s objectives.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read VIZIO’s 8K filing here.

VIZIO Company Profile

VIZIO Holding Corp., through its subsidiaries, provides smart televisions, sound bars, and accessories in the United States. It also operates Platform+ that comprises SmartCast, a Smart TV operating system, enabling integrated entertainment solution, and data intelligence and services products through Inscape.