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Wal-Mart to announce $3 billion Jet.com deal Monday, reports say

Wal-Mart Stores Inc.
Inside one of Walmart.com's fulfillment centers, dedicated to filling online orders.

Wal-Mart Stores Inc. will reportedly announce Monday its $3 billion purchase of online retailer Jet.com.

As part of the deal — one of the largest-ever acquisitions of an e-commerce company — Jet.com co-founder and CEO Marc Lore will lead Wal-Mart’s online division for at least two years, Bloomberg News reported Saturday.

Wal-Mart WMT, +0.63% , the world’s largest retailer, hopes the purchase can help it close the e-commerce gap with rival Amazon.com AMZN, +0.68% . Wal-Mart made only about $14 billion in...


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