<p>The all-cash bid, which would offer 148 rands for each Massmart share, is subject to many conditions including due diligence and exclusivity period, both companies said today.<br />Going by the price offered, the proposed deal would be worth around 30 billion rands (about USD 4.3 billion).<br /><br />Headquartered in Johannesburg, Massmart runs 290 stores in 13 countries in Africa and also manages eight wholesale and retail chains operating under different brand names.<br />The transaction would also help Wal-Mart to bolster its overall business by tapping fast-growing markets, the firms said in a statement.<br /><br />"South Africa presents a compelling growth opportunity for Wal-Mart and offers a platform for growth and expansion in other African countries," Andy Bond, Executive Vice President who is responsible for Wal-Mart's operations in the region, said.<br />In a regulatory filing to the Johannesburg Stock Exchange, Massmart has cautioned shareholders that there can be no certainty that the discussions "will lead to a formal offer being made".<br /><br />Wal-Mart Stores has more than 8,500 retail units under 55 different banners in 15 countries.</p>
<p>The all-cash bid, which would offer 148 rands for each Massmart share, is subject to many conditions including due diligence and exclusivity period, both companies said today.<br />Going by the price offered, the proposed deal would be worth around 30 billion rands (about USD 4.3 billion).<br /><br />Headquartered in Johannesburg, Massmart runs 290 stores in 13 countries in Africa and also manages eight wholesale and retail chains operating under different brand names.<br />The transaction would also help Wal-Mart to bolster its overall business by tapping fast-growing markets, the firms said in a statement.<br /><br />"South Africa presents a compelling growth opportunity for Wal-Mart and offers a platform for growth and expansion in other African countries," Andy Bond, Executive Vice President who is responsible for Wal-Mart's operations in the region, said.<br />In a regulatory filing to the Johannesburg Stock Exchange, Massmart has cautioned shareholders that there can be no certainty that the discussions "will lead to a formal offer being made".<br /><br />Wal-Mart Stores has more than 8,500 retail units under 55 different banners in 15 countries.</p>