The Board of Snapdeal has accepted the Flipkart’s revised takeover offer of about $950 millions last week, two sources who remain anonymous told.
Shareholders of Snapdeal will now have to approve the deal, the sources told Reuters, declining to be named as the discussions are not public.
ALSO READ: Snapdeal Divided Between Infibeam Buyout And Bigger Rival Flipkart
Snapdeal and Flipkart have not made an official statement yet. So the confirmation stays pending.
Bengaluru-headquartered Flipkart had revised its initial offer for Snapdeal to up to $950 million, Reuters reported last week.
ALSO READ: Flipkart-Snapdeal Deal: Negotiations On For Higher Offer