Executive Summary

• Walmart (WMT) and Jet.com announced today they have signed of a definitive agreement under which Walmart will acquire Jet.com for approximately $3.3 billion in cash and stock.
• The acquisition is expected to close by the end of the calendar year, subject to regulatory approvals. com’s CEO, Marc Lore, is expected to assume a senior management position at the combined entity.
• In the deal, Jet.com gets access to Walmart’s scale and balance sheet, and Walmart gets access to Jet’s management team, customer base and technology.
• Consumers will likely continue to benefit from the merger of two companies focused on delivering low prices to their customers.