In line with the planned $377.6-million deal, Walmart offered R62 ($3.66) for each outstanding Massmart share, a premium of 53 percent over the company's opening share price this morning. "With an expected inflow of foreign direct investment estimated at R6.4 billion ($377.6 million), this potential offer, if finalised, represents a positive vote of confidence in South Africa by the world's leading retailer," Walmart stated. The news of the multimillion-dollar acquisition sent Massmart shares flying by more than 42 percent to R57.58 ($3.4) per share, putting the company's market value above R12.62 billion ($745.8 million) at the time of writing. If the shareholders agree, the retailer will be delisted from the Johannesburg Stock Exchange and will become a wholly owned subsidiary of Walmart.