Posted: 11:54 p.m. EST, March 8, 2007
Google bids for Time Warner
Palo Alto, Calif. --- Yesterday Google (GOOG) placed a bid for Time Warner (TWX). Time Warner stands to receive 35 million in Stocks, 10 million in cash, and an assumption of 5 million dollars in debt. After CEO Time Warner, Richard D. Parsons reviewed the company’s worth he said, “We are taking this offer very seriously. Time Warner has 30 days to accept the offer. Google CEO Eric Schmidt mentioned that the company has been looking to expand and the merger has been an option for some time now. He mentioned that this is a, "This is an opportune time to take advantage of these rising companies." Google is saying that their bid more than compensates for the company. It will be interesting to see how if the merger takes place and see how big a conglomerate Google can grow to be.
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