HSN Inc. shareholders will gather Dec. 29 at the home shopping giant’s St. Petersburg, Fla., headquarters for a special meeting to approve its $2.6 billion merger with QVC Inc. parent Liberty Interactive, the company said in a filing with the Securities and Exchange Commission Monday.
Liberty first announced the all-stock deal in July, where Liberty Interactive would acquire the 62% of HSN it doesn’t already own. The company plans to keep its HSN and QVC brands separate.
The deal is still subject to federal regulatory approvals. Liberty has said it expects the transaction to be completed by the end of the year.
According to the deal each HSN stockholder will receive 1.65 shares of Liberty Interactive's Series A QVC Group common stock for each share of HSN common stock they own.
According to the prospectus, Liberty Interactive will issue about 53.5 million shares of Liberty QVCA common stock to HSN shareholders, who would own about 11.1% of the equity and 7.2% of the voting power of Liberty Interactive's QVC Group tracking stock. Additionally, HSN shareholders would own about 6.2% of the Liberty Interactive voting power as a whole.