AMAZON.COM, INC.

(AMZN)
  Report
Real-time Estimate Cboe BZX  -  12:41 2022-07-01 pm EDT
107.67 USD   +1.37%
12:22pWall Street kicks off second-half with losses on slowdown worries
RE
09:13aWALL STREET STOCK EXCHANGE : The need for reality checks
07:11aAmazon to allow Prime users to unsubscribe in two clicks after EU complaints
RE
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Australia's Woolworths offers to buy majority stake in MyDeal.com

05/19/2022 | 10:05pm EDT
FILE PHOTO: People walk past a Woolworths supermarket in Sydney

(Reuters) - Australia's Woolworths Group on Friday offered to buy 80% stake in online retailer MyDeal.com, as it looks to take on major internet retail giants operating in the country that includes Amazon.com.

The A$217.4 million ($152.88 million) deal involves Woolworths paying A$1.05 per share of MyDeal -- a near 63% premium to the stock's last close on Thursday. MyDeal's shares surged about 57% and were on track to see their best day ever.

The proposed buyout of MyDeal, one of Australia's largest internet retail businesses, aims to help Woolworths compete better with the likes of Amazon in the country, where it already has rivals in discount department stores Kmart and Target, stationery vendor Officeworks and hardware chain Bunnings -- all selling goods that are also sold on Amazon.

"The scheme is an attractive transaction, which provides an all-cash option for MyDeal shareholders" MyDeal Chairman Paul Greenberg said in statement. Separately, its board also recommended shareholders to vote in favour of the buyout.

Almost 60% of the shares being sold to Woolworths will be from MyDeal's Chief Executive Officer Sean Senvirtne's stake. He will also hold the remaining interest in the company.

Analysts at Barrenjoey said in a note that the acquisition looks to be a tacit acknowledgement that Woolworths's marketplace isn't gaining traction.

"Woolworths has struggled to generate returns in non-food businesses, so we question why they would allocate capital like this."

($1 = 1.4221 Australian dollars)

(Reporting by Navya Mittal in Bengaluru; editing by Uttaresh.V)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
AMAZON.COM, INC. 1.69% 108.04 Delayed Quote.-34.67%
MYDEAL.COM.AU LIMITED 0.00% 1.025 Delayed Quote.28.93%
NAVYA -0.99% 0.802 Real-time Quote.-60.68%
WOOLWORTHS GROUP LIMITED 0.37% 35.73 Delayed Quote.-6.34%
All news about AMAZON.COM, INC.
12:22pWall Street kicks off second-half with losses on slowdown worries
RE
09:13aWALL STREET STOCK EXCHANGE : The need for reality checks
07:11aAmazon to allow Prime users to unsubscribe in two clicks after EU complaints
RE
06:31aSOCIAL BUZZ : Wallstreetbets Stocks Mixed Premarket; Micron Technology, Nvidia Poised to D..
MT
05:16aM.J. Jones Black Star Eclipsed Radiates Parenting with an Imaginative Tale of Loss, Hop..
AQ
01:03aAnalysis-Some investors bet top growth stocks will thrive in U.S. recession
RE
06/30Amazon Reportedly Nearing Deal to Broadcast UEFA's Champions League in UK
MT
06/30Wall St slides, Dow set for worst first-half since 1962
RE
06/30Amazon celebrating 10 years of robotic innovation
AQ
06/30Factbox-Europe's summer travel chaos
RE
More news
Analyst Recommendations on AMAZON.COM, INC.
More recommendations
Financials (USD)
Sales 2022 524 B - -
Net income 2022 7 683 M - -
Net cash 2022 38 568 M - -
P/E ratio 2022 139x
Yield 2022 -
Capitalization 1 081 B 1 081 B -
EV / Sales 2022 1,99x
EV / Sales 2023 1,67x
Nbr of Employees 1 608 000
Free-Float 86,1%
Chart AMAZON.COM, INC.
Duration : Period :
Amazon.com, Inc. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends AMAZON.COM, INC.
Short TermMid-TermLong Term
TrendsNeutralBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 53
Last Close Price 106,21 $
Average target price 175,90 $
Spread / Average Target 65,6%
EPS Revisions
Managers and Directors
Andrew R. Jassy President, Chief Executive Officer & Director
Brian T. Olsavsky Chief Financial Officer & Senior Vice President
Jeffrey P. Bezos Executive Chairman
Patricia Q. Stonesifer Independent Director
Jonathan Jake Rubinstein Lead Independent Director
Sector and Competitors
1st jan.Capi. (M$)
AMAZON.COM, INC.-34.67%1 080 624
JD.COM, INC.-8.35%98 119
JD HEALTH INTERNATIONAL INC.0.16%24 929
COUPANG, INC.-56.60%22 471
ETSY, INC.-66.56%9 306
OCADO GROUP PLC-53.44%7 730