FBR Capital Remains Bullish on Liberty Interactive (QVCA) Following Announced Zulily Acquisition
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Liberty Interactive (QVCA) Ratings Unaffected on zulily (ZU) Acquisition Announcement - Moody's
August 17, 2015 3:00 PM EDTLiberty Interactive ("Liberty" -- Ba3/stable/SGL-1) and QVC Inc. ("QVC" -- Ba2) ratings and stable outlook are not immediately affected by the company's announcement that it has entered into a definitive agreement to acquire zulily, inc. ('zulily') for approximately $2.4 billion. While the acquisition is considered strategically sensible, the acquisition multiple is high and the partly debt financed nature will modestly weaken credit metrics.
The acquisition of zulily is seen as a strategically sensible acquisition for Liberty, as this will meaningfully increase its ecommerce revenue as well as attracting a younger demographic than QVC's customer... More
Liberty Interactive to buy online retailer Zulily in $2.4 billion deal
August 17, 2015 8:15 AM EDTBy Devika Krishna Kumar
(Reuters) - Liberty Interactive Corp (NASDAQ: QVCA), which owns home shopping network QVC, said it would acquire Zulily Inc (NASDAQ: ZU) in a deal valued at $2.4 billion to tap into the online retailer's younger clientele and its strong mobile presence.
Zulily is known for its "flash" sales of clothing, primarily for women and children. Chinese e-commerce giant Alibaba Group Holding Ltd (NYSE: BABA) owns a stake of about 9 percent in the company.
Billionaire... More
Liberty Interactive (QVCA) to Acquire zulily (ZU) for $18.75/Share
August 17, 2015 8:02 AM EDTLiberty Interctive (Nasdaq: QVCA) and zulily, inc. (Nasdaq: ZU) announced that they have entered into a definitive agreement under which Liberty Interactive will acquire all outstanding shares of zulily for $18.75 per share. The acquisition will be attributed to Liberty Interactives QVC Group tracking stock.
We are excited for zulily to join the Liberty family, stated Greg Maffei, Liberty Interactive President and CEO. Darrell, Mark and their team have built an impressive business around entertainment, discovery and value to the customer, which fits perfectly with the QVC philosophy. Combined... More
Wall St. up on housing data; Disney boosts media stocks
August 17, 2015 7:30 AM EDTBy Rodrigo Campos
(Reuters) - U.S. stocks rose on Monday after strong economic data boosted the housing sector and as investors bought recently battered shares in biotech and media.
Housing stocks rose after data showed U.S. homebuilder sentiment rose in August to its highest since a matching reading almost a decade ago.
The data more than offset earlier concern over a surprise fall in manufacturing activity in New York state in August.
"The housing data was pretty good," said Michael James, managing director of equity trading at Wedbush Securities in Los Angeles. "It... More
