Economy

LeEco deal to buy Vizio for $2 billion falls through

LeEco deal to buy Vizio for $2 billion falls through

We've reached out to LeEco to get more clarification on what "regulatory headwinds" mean, and to Vizio to see what this failed deal will mean for its brand and its plans moving forward.

In July of a year ago, it was announced that LeEco was undergoing the process of acquiring Vizio, the company best known for its TV lineup.

China's Le Holdings Co Ltd 300104.SZ , also known as LeEco, abandoned its proposed $2 billion acquisition of US consumer electronics company Vizio Inc VZIO.O on Monday, citing "regulatory headwinds". A completely separate deal is what this is, and it'll allow the companies to "continue to explore opportunities to incorporate the Le app and content within the VIZIO connected CE platform".

Gov. Brown declares end to state's drought emergency
The rest of the state shouldn't forget water-saving strategies either. Brown said. "Conservation must remain a way of life".

LeEco has tried make a big splash with its debut in the US. Conversely, Vizio hasn't had much of a footprint in China, and LeEco could potentially help the company to sell its TVs to Chinese consumers.

LeEco's ambitious USA expansion plans have been under scrutiny for some time. "The pace of LeEco's strategic development is moving too fast", Jia Yueting said in the letter. LeEco is also the parent company of Faraday Future, which has its own mile-long list of over-promising and funding problems. Last month, word broke that it was looking to sell the expensive land it bought in Silicon Valley just past year because of financial problems. But since then, Le Eco's financial situation has worsened, as the company raised $2.2 billion from a real estate tycoon in January to keep the business afloat amid a cash crunch. Chinese regulatory hurdles were rumored to be standing in the acquisition's way.


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