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Online marketplace Snapdeal is close to buying its nearest rival ShopClues in an all-stock deal, two people familiar with the matter said, after the on-again, off-again talks fell through earlier following disagreement on its financial terms.
The deal is likely to see Shop-Clues investors get one Snapdeal share for every nine they hold if the merger goes through in this planned structure, and will likely give them a 10% stake in the combined entity.
“The ask from Shopclues is to get at least a 30% stake in Snapdeal as part of the transaction,” said one of the persons.
Snapdeal inches closer to acquiring ShopClues
The deal is likely to see Shop-Clues investors get one Snapdeal share for every nine they hold if the merger goes through in this planned structure, and will likely give them a 10% stake in the combined entity.
“The ask from Shopclues is to get at least a 30% stake in Snapdeal as part of the transaction,” said one of the persons.
Snapdeal inches closer to acquiring ShopClues
