Zalando to Buy German E-Commerce Player About You for $1.3 Billion

Zalando SE, the German online fashion retailer, agreed to buy rival About You Holding SE for around €1.2 billion ($1.3 billion), in a bid to dominate Europe’s e-commerce market.

Berlin-based Zalando said Wednesday it will offer €6.50 per share for About You. That’s a premium of about 67 percent to the closing price Tuesday.

Zalando said the deal will give it a larger share of the €450 billion European fashion and lifestyle market.

The management and supervisory boards of About You…