Seattle-based Internet retailer Amazon.com said today it has reached an agreement to buy online shoe vendor Zappos.com in a stock deal valued at nearly $900 million.
Amazon said it will buy all the Nevada company for about 10 million shares of its stock — worth $895 million based on yesterday’s closing price of $89.50 per share.
Amazon also said it will pay Zappos employees $40 million in cash and restricted stock.
The deal is expected to become final in the fall, Amazon said. It will keep the Zappos management team as well as its Las Vegas headquarters.
- Anonymous donor pays off landslide victim's $360K mortgage
- Could Chris Polk be a fit for the Seahawks?
- Seattle-to-suburb commuters prefer urban lifestyle
- Fire destroys Bellevue auto showroom, dozens of cars
- A Midcentury modern home for the history books
Most Read Stories
Amy Martinez: 206-464-2923 or email@example.com