Media reports suggest that the board of e-commerce venture Snapdeal has rejected a takeover offer of $700-800 million made by rival firm Flipkart. Citing people aware of the development, reports say the offer was “significantly lower” than its supposed opening bid of around $1 billion. They reportedly said the exclusivity period for Flipkart to conduct due diligence has ended. However, the talks between the two firms are expected to continue, say reports.
By Vikraman Maniraj | Jul 5, 2017 11:55 AM #Snapdeal #Flipkart #Takeover
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