Reported about 15 hours ago
Zalando SE has agreed to acquire its rival, About You Holding SE, for approximately €1.2 billion ($1.3 billion) as part of its strategy to strengthen its position in the European e-commerce market. The deal involves a premium offer of €6.50 per share and is expected to generate around €100 million in annual synergies by combining logistics and commercial operations. The acquisition has the backing of About You's management and major shareholders, and aims to tap into About You's younger customer demographic. Despite some concerns over competition, Zalando remains confident about the transaction's success.
Source: YAHOO