Monday, April 10, 2017
Vizio, LeEco Call Off $2 Billion Acquisition Deal
Irvine-based Vizio and Chinese electronics giant LeEco have called off the $2 billion acquisition of Vizio by LeEco, citing "regulatory headwinds". Hints that the deal were going south have been apparent for months, as LeEco has faced a cash crunch, issues getting cash for the deal from overseas, and more. The two had reached an agreement in July of 2016 for LeEco to buy Vizio, a move which would have made Vizio founder William Wang a billionaire. It's unclear what the path forward is now for Vizio, which had filed for an IPO in 2015 before inking the LeEco acquisition deal.