Symbotic Inc. (NasdaqGM:SYM) entered into a Purchase and Sale Agreement to acquire Walmart Advanced Systems & Robotics Inc. from Walmart Inc. (NYSE:WMT) for $550 million on January 15, 2025. The Purchase Agreement provides that Symbotic will pay to Walmart, (a) upon the closing of the transactions contemplated by the Purchase Agreement, $200,000,000 in cash, subject to customary adjustments for cash, indebtedness and transaction expenses, and deferred cash consideration following the Closing of (i) $175,000,000, payable only upon acceptance of the first APD under the terms of the Commercial Agreement by Walmart, and (ii) $175,000,000, payable only upon Walmart?s exercise of the Additional APD Option. The transaction is subject to subject to antitrust regulations. The acquisition is anticipated to close in Symbotic?s fiscal second quarter of 2025.

Mahvesh A. Qureshi and Derrik Forshee of Hogan Lovells US LLP acted as legal advisor for Walmart Inc. Matthew B. Goodman and Mimi Wu of Sullivan & Cromwell LLP acted as legal advisor for Symbotic Inc. Citigroup Inc. acted as financial advisor for Symbotic Inc.