FTD acquires Liberty Interactive's Provide Commerce floral and gifting businesses for $430 million
Client(s) FTD Companies, Inc.
Jones Day advised FTD Companies, Inc. in the acquisition of Liberty Interactive Corporation's Provide Commerce floral and gifting businesses for $430 million. Under the terms of the $430 million transaction, Liberty received 10.2 million shares of FTD common stock representing 35 percent of the combined company and $144.7 million in cash. The strategic combination of FTD's brand and floral network with the Provide Commerce collection of established and highly recognizable consumer gifting e-commerce brands, which include ProFlowers, Shari's Berries, and Personal Creations, will further FTD's vision to become the world's leading and most trusted floral and gifting company.
In addition to M&A representation, Jones Day provided antitrust, tax, and employee benefits advice regarding this transaction.