PNS 8: Business
Posted: March 20, 2008
Google Proposes Hostile Takeover Bid
SAN JOSE, California- Google Inc. made a hostile takeover bid involving the purchase of Time Warner Inc. The purchase price is reported at $50 billion dollars in cash and stocks. It will be divided up with $35 billion in cash to stockholders, $10 billion in stock and $5 billion in assumed debt.
Both Yahoo Inc. and Microsoft Inc. are not happy about this move. Yahoo hoped to be bought out by Time Warner where as Microsoft wanted to buy Time Warner. If this takeover goes through it may possibly make it much more difficult for Yahoo to sell.
CEO of Google, Eric Schmidt, was quoted saying: "Google strikes while the iron’s hot and the iron’s hot right now in the media industry. This is the correct move at the correct time for Google."
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1 comment:
Allie great job on this! For how little of time we had, you kept this very organized! Awesome!
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