Walmart set to refile Vizio deal paperwork
Walmart Inc. said this week that it will refile the paperwork for its planned $2.3 billion acquisition of television maker Vizio.
Vizio said in a Securities and Exchange Commission filing that Walmart expected to refile that paperwork today to give antitrust agencies more time to review the proposal.
Walmart's original paperwork was withdrawn on Wednesday, reportedly after informal discussions with the Federal Trade Commission and the Department of Justice.
Walmart and Vizio jointly announced the proposed acquisition in February, with the caveat that the transaction was subject to regulatory clearance and other closing conditions specified in the merger agreement.
Walmart said when the deal was announced that it would benefit Walmart Connect, the Bentonville-based retailer's media company in the United States.
Vizio uses its SmartCast operating system built into its television sets to let users stream movies and other content for free by watching ads. This model gives advertisers another way to reach millions of consumers, the companies said.
-- Serenah McKay
Simmons opens new branch in Pine Bluff
Simmons Bank has opened a new full-service branch in Pine Bluff at 1400 E. Harding Ave., one of five Simmons Bank offices in the city.
"The opening of the East Harding location reinforces our commitment to the residents and community of Pine Bluff," said Chad Pittillo, Pine Bluff community president for Simmons Bank. "In addition to added convenience, the upgraded facility will also enable us to provide broader access to the products and services our customers desire to meet their evolving financial needs."
The 3,780-square-foot financial center features a full-service branch with a drive-thru lane and an ATM with deposit capabilities along with personal, commercial and mortgage lending as well as wealth management services.
Simmons operates 234 branches in Arkansas, Kansas, Missouri, Oklahoma, Tennessee and Texas.
-- Andrew Moreau
Index gains 15.85 to close at 953.06
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, closed Thursday at 953.06, up 15.85 points.
"The S&P closed the last trading day of the first quarter only modestly higher for the day but with strong gains for the quarter of over 10% ahead of Personal Consumption data due to report Friday morning which is expected to influence Federal Reserve rate discussions," said Leon Lants, managing director at Stephens Inc.
Shares of ArcBest Corp. rose 3.9% Thursday to lead the index. Dillard's Inc. shares rose 3%. Walmart shares fell 0.9%.
The index was developed by Bloomberg News and the Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.