Amazon.com Goes Shoe Shopping, Tries On Zappos.com
Amazon.com gained a foothold in the footwear business with its purchase of online apparel and footwear seller Zappos.com, announced Wednesday.
Under terms of the deal, Amazon.com will acquire all outstanding shares and assume all outstanding options and warrants of Zappos.com in exchange for approximately 10 million shares of Amazon.com common stock, valued at approximately $807 million based on the stock’s average closing price for the 45 trading days ending July 17. Amazon.com will also provide Zappos.com
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