Large online marketplace seller announces merger

Packable, which operates Pharmapacks, a third-party retailer selling health and beauty products on online marketplaces operated by Amazon.com, eBay, Google, Target and Walmart, has agreed to merge with Highland Transcend Partners, a a special purpose acquisition company (SPAC). Packable, which was valid at $1.1 billion last year, expects to generate $456 million in sales this year.