VIZIO Holding Corp. (NYSE: VZIO)
Nationally recognized shareholder rights firm Julie & Holleman LLP is investigating the proposed $11.50 per share sale of VIZIO Holding Corp. (NYSE: VZIO) to retail behemoth Walmart.
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Additional Information:
VIZIO is an American technology company that is driving the future of televisions through the company’s integrated platform of cutting-edge Smart TVs and powerful operating system. Its largest shareholder is Chairman and CEO William Wang, who owns 86% of the company’s stock and thus has voting control over the company.
On February 20, 2024, Agiliti announced that it had entered into an agreement to be acquired by Walmart for $11.50 per share in cash.
Julie & Holleman, whose attorneys have helped secure hundreds of millions of dollars for shareholders, is concerned about the inadequate deal price. The $11.50 per share deal price is less than the $17.50 per share IPO price, and certain Wall Street analysts established price targets that exceeded that deal price. Julie & Holleman is also concerned about conflicts of interest—Mr. Wang will receive a payout worth hundreds of millions of dollars and still gets to participate in the company’s long-term future, while public shareholders are about to be cashed out.