Snapdeal board rejects Flipkart’s buyout offer
Snapdeal’s board has apparently rejected an offer worth $700-750 million from Flipkart. This is markedly lower than the reported $1 billion offer Flipkart had initially made for Snapdeal’s business. As per the report, the deal is not off yet, but will depend on negotiations between Softbank Group and Tiger Global Management, the majority stakeholders of Snapdeal and Flipkart respectively.