July 6, 2017 / 12:22 PM / 6 months ago

BRIEF-Liberty Interactive enters into deal to buy HSN Inc for total enterprise value of $2.6 bln

July 6 (Reuters) - Hsn Inc:

* Liberty Interactive enters into agreement to acquire HSN, Inc.

* HSN Inc says Liberty Interactive intends to issue 53.4 million shares of QVC series A common stock to HSNI shareholders

* Entered into an agreement whereby Liberty Interactive will acquire 62% of HSNI it does not already own in an all-stock transaction

* HSNI shareholders will receive fixed consideration of 1.65 shares of Series A QVC group common stock for every share of HSNI common stock

* Says upon closing, Liberty Interactive board of directors will be expanded by one to include a director from HSNI board of directors

* Total enterprise value for HSNI of $2.6 billion, an equity value of $2.1 billion, and consideration of $40.36 per HSNI share

* ‍Following completion of transaction, Liberty Interactive expects to continue its repurchases of QVC group common stock​ Source text for Eikon: Further company coverage:

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