The acquisition is expected to be accomplished by fourth quarter of 2017. Liberty Interactive bought online flash sale website Zulily in 2015 for $2.4 billion. “This is a direct impact of TV viewership declining. Allen & Company and the regulation firm Baker Botts are advising Liberty Interactive, while Centerview Partners, Goldman Sachs and the law firm Davis Polk & Wardwell are advising a special committee of HSN’s board of directors.
The corporations additionally said they hope to make use of Zulily, which QVC purchased in 2015, to drive youthful customers to each manufacturers. Shareholders should purchase a stake in the mixed firm by way of the QVC Group monitoring inventory, which is being spun off from Liberty Interactive and likewise consists of flash sale web site Zulily. HSN shareholders will get 1.65 shares of Series A QVC Group common inventory for each share of HSN that they personal. “The combined … Read More