John Malone’s Liberty Interactive Corp (QVCA.O) put it would likely receive online retailer Zulily Inc (ZU.O) in a very very hard cash and stockpile price priced $2.some billion.
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In a statement released Monday, Liberty says it will acquire all outstanding Zulily shares at $18.75 a piece, and attribute it to QVC Group’s tracking stock.
Liberty is the owner of the television shopping service QVC. The companies said that together they would have revenue of more than $10 billion.
While Zulily’s sales topped $1 billion last year, its growth has slowed and its shares have been in decline since February of last year.
Zulily shares are spiking in early market trading, up 45.03% to $18.22 so far today.
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Zulily has had problems keeping active shoppers on its site. Zulily will keep its headquarters in Seattle, with Darrell Cavens remaining as its president and chief executive. QVC has built an fantastic business with a great culture and incredibly similar understanding for bringing entertainment, discovery and value into the daily customer experience.
