Home GRASP GRASP/China LeEco, Vizio abandon $2 billion deal over regulatory concerns

LeEco, Vizio abandon $2 billion deal over regulatory concerns

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China’s Le Holdings Co Ltd (300104. SZ), also known as LeEco, abandoned its proposed $2 billion acquisition of U. S. consumer electronics company Vizio Inc (VZIO. O) on Monday, citing”regulatory headwinds.”
LeEco and Vizio, however, have struck a new collaboration agreement that includes bringing Vizio products to the Chinese market, according to a brief emailed statement from the Chinese company.
The statement did not elaborate on the regulatory hurdles that prevented the deal from going ahead.
The deal to buy Irvine, California-based Vizio was announced in July.

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