Amazon.com Inc. (NASDAQ: AMZN) said Monday that it closed on its acquisition of online apparel and footwear company Zappos.com Inc., according to Associated Press.
Best Damn Penny Stocks, a leading financial publication, is pleased to alert investors of stocks on the move. Sign Up for our Free Stock Newsletter.
The Web retailer said in July that it would pay about 10 million shares of common stock for privately held Zappos. At the time Amazon valued the deal at approximately $807 million, based on its average closing price in the 45 days that ended July 17. The company also said it would pay $40 million in cash and stock to Zappos employees.
Zappos' management will stay on at the business, which will continue to run independently at its Las Vegas headquarters.
Shares of Amazon.com fell 59 cents to $118.22 in afternoon trading.
Sign up for the free Best Damn Penny Stocks newsletter. To subscribe, enter your e-mail address into the frame at the bottom of this press release or visit our website.
About Best Damn Penny Stocks
Best Damn Penny Stocks is a leading stock web site that allows investors and interested parties to research stocks that are on the move. We also track small cap companies that are on the brink of a financial breakout. To feature a company on our web site please contact us at the email listed below.
Please click here to read the full disclaimer.
