Wednesday, March 7, 2007
Posted at 4:45 p.m.
HOSTILE TAKEOVER ANNOUNCED
Palo Alto, California - Google Inc. (GOOG) top executives announced a hostile takeover to Time Warner Inc. (TMX) today, March 7, 2007.
Google has offered Time Warner Inc. $35 billion in cash, $10 billion in stocks, and $5 billion to pay off their debt.
CEO of Time Warner, Richard D. Parsons, said that the offer was just received and was very "unexpected," and has not been accepted yet. The board will have to sit down and figure out how much the company is worth before they come to a decision.
Eric Schmidt, CEO of Google Inc., said that they have been interested in expanding Google and have the funds to make the merger. They have looked at their stock value, estimated value of Time Warner Inc. and have offered them more than what we think they are worth.
The offer will sit on the table for 30 days for Time Warner Inc. to come to a decision on whether they would like to merge with Google Inc.
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1 comment:
Great job! Lots of info for the little time we had to write it. Be careful with making some of your sentences "run-on" sentences, but excellent job.
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