Walmart has agreed to buy TV maker Vizio, the companies announced Tuesday, as the largest U.S. retailer grows its high-profit ad business.
Walmart will acquire Vizio for $2.3 billion, or $11.50 per share, in cash. Vizio shares, which spiked after reports of the deal first emerged last week, closed at $9.53 on Friday.
The big-box retailer announced the acquisition as it reported fourth-quarter earnings.
Walmart and its Sa...