Flipkart may woo Snapdeal with revised bid after rejection of $800 mn offer

New offer to be closer to Snapdeal demand of $1 bn; deal to conclude in a month, if accepted

Online marketplace biggie Flipkart is all set to revise its bid to buy Snapdeal after the latter’s board of directors rejected the first offer of nearly $800 million.

The bid which might be sent in the next few days would be close to the Snapdeal board’s demand of a billion dollar, sources close to the board said. They added that if the terms are accepted, the deal would be completed within a month or so.

Snapdeal board members had earlier rejected the offer of $800 million made by Tiger Global-backed Flipkart, but sources said talks were still on. “The board is unhappy