Walmart in talks to buy Massmart – for R30bn

By Andy Rice 27 September 2010

US retailer Walmart has put in a non-binding offer to buy South African wholesaler Massmart, for a proposed R148 a share. If Walmart does buy the company's entire share capital this would add up to a cool R28.9 billion. In order for a firm offer to be made, several conditions, including a due diligence study, will have to be met. Massmart has given Walmart an exclusivity period while these conditions are being fulfilled.  Read more: Moneyweb, Reuters Africa

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