NEW YORK, September 10, 2015 /PRNewswire/ --
ACI Association has initiated research coverage on zulily,
Inc. (NASDAQ: ZU). Select highlights from the internally
released reports are being made available to the general public
(included below), with access to the entirety of the research
available to new members.
Today, membership is open to readers on a complementary basis at
the following URL: http://www.aciassociation.com/?c=ZU
Highlights from our ZU Report include:
- Collaborating to Create Exciting Opportunities -
On August 17, 2015, zulily, inc. and
Liberty Interactive Corporation announced that they have entered
into a definitive agreement wherein Liberty will acquire zulily.
The acquisition will be attributed to Liberty Interactive's QVC
Group tracking stock. The proposed transaction will bring together
two highly complementary businesses under common ownership, while
further strengthening QVC's leadership position in experiential,
discovery driven shopping. The Company informed that QVC and zulily
will operate as separate consumer facing brands under the deal. The
collaboration would help in leveraging QVC's global scale,
curation, vendor relationships and video commerce expertise at
zulily. In a similar manner, the younger customer demographic,
personalization expertise and eCommerce capabilities of zulily will
boost QVC.
- Terms of Agreement - Under the terms of agreement,
Liberty Interactive will acquire all outstanding shares of zulily
for $18.75 per share for a total
value of approximately $2.4 billion.
Liberty Interactive has agreed to provide $9.375 in cash and 0.3098 newly issued shares of
QVCA for each zulily share. The Company stated that funding the
cash portion of the consideration is expected to come from cash on
hand at zulily and QVC's revolving credit facility. The
transaction, which has been approved by the boards of directors of
both companies, is anticipated to close during the fourth quarter
of 2015.
- Management Commentary - Mike George, QVC President and CEO, added, "In
zulily, we see a like-minded brand that shares our passion for
discovering great products, for delivering honest value, and for
building long term relationships with customers. Our teams are
committed to learning from and inspiring each other and leveraging
our platforms in new ways to accelerate growth, serve our customers
better, and realize the full potential of both of these
extraordinary brands." Discussing the opportunities from the
proposed combination, Darrell
Cavens, President and CEO of Zulily, stated, "This
combination under Liberty is about investing in our future and
providing a tremendous opportunity to accelerate our platform for
growth of the zulily brand through the partnership with QVC."
To find out how this influences our rating on zulily, Inc. read
the full report in its entirety here:
http://www.aciassociation.com/?c=ZU
--
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