Wal-Mart to buy Jet.com for about $3.3 billion

Wal-Mart said it would pay $3 billion in cash, part of which would be paid over time along with an additional $300 million in its shares. "We're looking for ways to lower prices, broaden our assortment and offer the simplest, easiest shopping experience because that's what our customers want," Wal-Mart Chief Executive Doug McMillon said. The Wall Street Journal reported last week that Wal-Mart was in talks to buy the online discount retailer.