Google makes bid for Time Warner
SAN JOSE, Cali. Google Inc. has gone strait to the stock holders of Time Warner Inc. to make a hostile takeover bid. Google’s offer includes paying $35 billion in cash, $10 billion in stock and $5 billion in assumed debt of Time Warner. CEO of Google, Dr. Eric Schmidt, said “This is the correct move at the correct time for Google.”
With this bid in the public it has made CEO of Yahoo Inc. a little uncomfortable with the fact that they could possibly not get bought out by either of these two companies that he was originally hoping for. Microsoft Inc. was hoping to buy out Time Warner to increase their already large market, but seemed to be a little slow on the bidding process.
Stocks are changing for all four of these major companies. Time Warner’s stocks seem to be on a low, http://finance.google.com/finance?client=ob&q=TWX, while Google stocks seem to be changing often, http://finance.google.com/finance?q=NASDAQ%3AGOOG. Schmidt says “Google strikes while the iron’s hot and the iron’s hot right now in the media industry.
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2 comments:
Amber-
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