In a huge merger on Thursday, reports suggest that U.S. retail giant Walmart Inc has signed a deal to acquire 73% of controlling stakes of Indian e-retail company Flipkart - a deal that will likely prompt the exit of Flipkart's co-founder Sachin Bansal.
A $20 billion valuation for Flipkart would be substantially higher than the $12 billion mark it hit a year ago.
Reuters reported in February here that it was in talks to purchase a stake of over 40 percent in Flipkart, which is backed by the likes of SoftBank Group, Tiger Global, eBay, Accel Partners, Naspers, Tencent Holdings and Microsoft Corp.
The goal of the move is to regain its status of a private limited company in Singapore ahead of investment by Walmart. The deal is expected to close within 10 days, though terms could still change and a deal isn't certain.
The deal with Walmart, involving primary and secondary shares, is expected to value Flipkart at about United States dollars 20 billion, they added.
People familiar with the negotiations told TOIWalmart wants to retain only one of the two founders as they fine-tune the deal.
American department store Walmart may well be facing competition from Amazon in its bid for majority ownership of Flipkart, Amazon's biggest rival in India.
Two years ago, Amazon already approached Flipkart with an offer ultimately deemed too low for a 51 to 55% stake in the company.
The deal is not likely to go through as it could result in close scrutiny as the merged entity would have the major share of growing online retail market. The world's largest retailer has struggled against Amazon as consumers increase their spending on the Internet. Flipkart, Walmart and Google didn't immediately respond to requests for comment. The US retail conglomerate is tipped to spend at least $14.6 billion, and as much as $16 billion, in the cash-and-stock buyout of the Indian e-commerce company. Founder Jeff Bezos has committed $5.5 billion (roughly Rs. 36,800 crores) to the country and his local chief, Amit Agarwal, has made progress by adapting the site to local conditions.
However, citing resources, the report said that Binny Bansal might stay in the firm after the Walmart takeover.
Walmart is now seeking a bigger stake than previously expected.
Trainer Todd Pletcher has four entrants, including contenders Magnum Moon and Audible, but he's not a smart pick, either. Current Saints' owner Gayle Benson will reportedly be in attendance to watch Lone Sailor between Pelicans playoff games.
She was pulled back in, but died at a Philadelphia hospital from blunt trauma to her head, neck and torso, according to CNN. Passenger Jennifer Riordan , a mother of two, was killed when she was partially sucked out of the plane .
Besides Agra, three persons died in Bijnore, two in Saharanpur and one each in Bareilly, Chitrakoot, Rae Bareli and Unnao. Prime Minister Narendra Modi tweeted his condolences and said the states have been offered help to deal with the crisis.
Student Laura Shahverdyan, 22, said the country was united in its demand that the Republican Party's rule must end. He is the only candidate for prime minister, but the chamber is controlled by the Sargsyan's ruling party.
Being able to jump way up in the air and slowly float down makes it a lot easier to get a height advantage on your enemies. Those smaller craters could provide some cover and give you a clear spot to meet up with teammates, but that's about it.
Showers and thunderstorms are forecasted to continue through the night, with winds gusting as high as 20 miles per hour . The Storm Prediction Center lists the severe risk for Thursday and Thursday night as "slight" as far south as Texarkana.
She added that cervical screening is absolutely essential for women in Ireland and encouraged people to continue going for smears. Mr Harris also announced he would appoint an worldwide panel of clinical experts to review the cases of all the women involved.
At the time , labor movements around the world were campaigning for safeguards such as eight-hour workdays and trade unions . This act holds liable an organisation with a work force of 20 or more workers to guarantee a bonus to each of its employees.
He said utilities, which were cut to the home and surrounding area late last night, will still be affected for another few hours. Police were initially called to the scene on reports that a man was holding his wife hostage inside a home.
Reports state that the us envoy is still in police custody, awaiting the verification and confirmation of diplomatic immunity. The area police immediately reached the spot and rushed both the injured to the PIMS Hospital for medical treatment.
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