Investing.com – U.S. retail giant Walmart (NYSE:WMT) to buy e-commerce site Jet.com for about $3 bn in cash.
Agreement also calls for $300 mn in Walmart shares to be paid over time.
Deal is the largest ever US e-commerce company acquisition.
Walmart has struggled to make inroads into Amazon’s market.
Jet.com has focused on a low-price strategy.