Transfin.
HomeNewsGuidesReadsPodcastsVideosTech
  1. News
  2. Explained

Walmart To Acquire Flipkart, US Senate Passes Spending Bill et al.

Professor of Financial Economics and Part-time Value Investor, Transfin.
Feb 9, 2018 12:42 PM 1 min read
Editorial

End of Day Wrap-up (Friday / February 9, 2018) #Walmart #Flipboard #JSW #Bhushan #eBay #Tax #demonetisation #US #Senate #DowJones #Transfin

Editor's comment: Walmart in conversation to acquire 20% stake of Flipkart at a reported valuation of $20bn (vs. $12bn prior valuation). Talks at an advanced stage but no deal confirmation at the moment.

 

In the ongoing RBI-mandated Insolvency-driven steel auctions, JSW Steel comes as front-runner in bid to acquire Monnet Ispat & Energy while competing against Tata Steel for acquisition of 2 Bhushan Steel cos. JSW's bid for Bhushan INR500cr more than Tata Steel.

 

US Senate pass sweeping bipartisan (71-28) spending bill but not before kicking-off second government shutdown in less than three weeks.

 

Dow Jones Industrial Average drops by 1,000 points (-4.1%) hitting 10% below its all-time high, thereby indicating it is now in "correction" territory for first time in two years.