 "A private security gurad stands at a gate of Snapdeal headquarters in Gurugram on the outskirts of New Delhi, India. File Photo: Reuters")
Snapdeal is likely to send Flipkart's $900-950 million buyout proposal to its shareholders this week to seek their views on the plan, according to sources.
The Board wants to get the shareholders' opinion on the proposed deal, two people aware of the developments said.
The company will share details of the buyout offer with all shareholders, which includes the likes of industrialist Ratan Tata and PremjiInvest.
They did not want to be identified as discussions are still on and the deal has not been finalised yet.
When contacted, a Snapdeal spokesperson said: "No formal communication has been shared with shareholders and no board vote
