Zalando acquires ABOUT YOU for 1.1 billion euros

Zalando has decided to acquire its competitor ABOUT YOU, according to both companies, in order to better serve the needs of customers and partners through their combined and diverse B2C and B2B offerings, enabling the combined group to cover a larger share of the European fashion and lifestyle e-commerce market. The companies have entered into a definitive merger agreement under which Zalando intends to submit a voluntary public tender offer to acquire up to 100% of the share capital of ABOUT YOU.