Walmart plans to redo and refile documents pertaining to antitrust issues regarding its proposed acquisition of Vizio.
According to a filing with the Securities and Exchange Commission by Vizio, “following informal discussions with the Federal Trade Commission and the Department of Justice, Walmart notified the antitrust agencies that Walmart will voluntarily withdraw and refile the Hart-Scott-Rodino notification report form for the merger in order to give the antitrust agencies additional time to review the proposed transaction.”
Walmart plans to refile on March 29 and said the waiting period under the Hart-Scott-Rodino Antitrust Improvements act will expire on April 29.
The filing did not specify what if any objection regulators had to the potential combination of the giant retailer and the TV set maker, which is also a leading provider of viewing data through its Inscape unit.
Walmart agreed to buy Vizio for $2.3 billion in February.
Walmart planned to use Vizio’s SmartCast TV operating system as a way to connect with customers,
Analysts said that a combination of Walmart and Vizio had the potential to disrupt the CTV advertising landscape
Adding Vizio would help Walmart grow its already burgeoning media business. Like other retailers, Walmart is in the data business, helping marketers figure out if their advertising is driving store sales. With Vizio’s viewing data, Walmart could have a big advantage in tracking advertising effectiveness.
