(RTTNews) - CarMax, Inc. (KMX) said it will acquire the remaining shares of Edmunds for a purchase price that implies an enterprise value of $404 million, inclusive of CarMax's initial investment, which it expects to be paid in a combination of cash and stock. Based in Santa Monica, California, Edmunds guides car shoppers online from research to purchase.
CarMax expects the addition of Edmunds' net income to be immaterial to the company's earnings per share in fiscal 2022, with potential for significant shareholder value creation over the longer term.
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