Posted: March 20, 2008
San Jose, California
Thursday- Google Inc. released their proposition to make a hostile takeover bid on Time Warner Inc. The financial outline involved in this takeover is $35 billion in cash will be given to the stock holders, $10 billion will be spent directly on stock, and $5 billion will be given to Time Warner to pay for an assumed debt.
This acquisition has been a great venture for Google but on the other hand Yahoo Inc. and Microsoft Inc. are quite discontented at the news of this takeover bid. Both Yahoo and Microsoft had hopes of purchasing Time Warner.
Chief Executive Officer Eric Schmidt said, “ Google strikes while the iron is hot, and the iron is hot right now in the media industry. This is the correct move at the correct time for Google.”
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2 comments:
Very well written. I liked the quote, and the information was very clear and easy for the public to understand.
You did great! Condisdering the time we had... I agree with Cody... good quote!
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