Zalando to Buy German Retailer About You for $1.3 Billion
- Takeover gives Zalando larger share of Europe’s online market
- Companies anticipate long-term synergies of €100 million
Zalando SE, the German online fashion retailer, agreed to buy rival About You Holding SE for around €1.2 billion ($1.3 billion), in a bid to dominate Europe’s e-commerce market.
Berlin-based Zalando said Wednesday it will offer €6.50 per share for About You. That’s a premium of about 67% to the closing price Tuesday.