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Walmart Pays Dearly as It Struggles to Catch Up to Amazon in E-Commerce

Walmart (WMT) is shelling out over $3 billion to get a more significant footing in e-commerce, but the expensive acquisition may not tip the scale as much as the retailer hopes in its ongoing battle against (AMZN) .

Walmart announced Monday that it has agreed to acquire Jet for about $3 billion in cash and $300 million of its stock. The acquisition is subject to regulatory approval and is expected to close in 2016.

Hoboken, N.J.-based Jet says it has has about a $1 billion run-rate in Gross Merchandise...