Deal Street

July 14, 2017

Snapdeal Acquisition: Flipkart Could Offer $900-950 mn For Snapdeal

Snapdeal, Flipkart

Reportedly, E-commerce major Flipkart is expected to make a revised offer of US $900-950 million for buying rival Snapdeal.

It has been said that the new offer almost matches the initial asking price of US $1 billion for acquisition of the beleaguered e-commerce marketplace.

Snapdeal's board has already rejected a takeover offer of US $800-850 million (around Rs 5,500 crore) from Flipkart as it felt the amount undervalued the company given that the due diligence report was clean.

The deal between Snapdeal and Flipkart, if completed, would mark the biggest acquisition in the Indian e-commerce space.

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