QVC Parent Buys Zulily in $2.3B Deal

The owner of QVC is buying online flash-deal business Zulily in a cash-and-stock deal valued at approximately $2.32 billion. While Zulily's sales topped $1 billion last year, its growth has slowed and its shares have been in decline since February of last year. The per-share price paid by QVC is below the $22 Zulily got during its initial public offering in November 2013, and far lower than the $73.50 that company shares hit shortly after its IPO.