Tag Archives: BuyOut

Activision Blizzard is going independent, buying out Vivendi for $8 billion

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Gaming giant Activision Blizzard announced it's buying out most of majority shareholder Vivendi's stake, at a total price of about $8.2 billion. Activision will pay about $5.83 billion in cash to Vivendi for 429 million shares, while an investment group led by CEO Bobby Kotick and co-chairman Brian Kelly will pick up 172 million shares for $2.34 billion, leaving Vivendi with 83 million shares, or about 12 percent of the company. The publisher of titles like Call of Duty and World of Warcraft (and Guitar Hero before it ran that into the ground), Activision reported $1.05 billion in net revenue for Q2 and raised its full-year revenue outlook slightly, although full results won't be available until August 1st. As Joystiq mentions, Vivendi has been unsuccessfully trying to sell its part of the company for nearly a year, hopefully this transaction works out the best for everyone. By everyone, we mean people still waiting for StarCraft: Ghost.

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Via: Joystiq

Source: Activision

Dell Buyout of $24.4 Billion Wins Support From ISS

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An internationally renowned proxy advisory council going by the acronym of ISS gave the thumbs down signal to activist investors. They had been trying to shift the date for the buyout of Dell. The $...

Clearwire shareholders approve buyout by Sprint

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Well, the FCC has already offered its tacit approval of the merger between Sprint, Clearwire and Softbank. And Sprint shareholders are on board with its buyout by Softbank. Really, the last hurdle for this major wireless marriage, was Clearwire's shareholders. Now they've approved the plan to be purchased by Sprint, which in turn will be absorbed by Softbank, putting an end to a long drama over the tiny carrier's future. When Dish decided to exit the bidding war over the company in late June it seemed to be all but a done deal that Sprint, already a majority shareholder of Clearwire, would take over the rest of the company. The deal is expected to be officially closed on July 9th, followed only shortly after by the Sprint and Softbank merger on July 10th.

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Source: Reuters, Sprint

Dish withdraws its offer to buy Clearwire

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Sprint Dish Wire

And with that, Dish is (seemingly) out of the running: following a decision to back away from buying Sprint, the satellite TV giant has also withdrawn its bid for Clearwire. The company is bowing out due to a "change in recommendation" at Clearwire -- in other words, shareholders now prefer Sprint's recently sweetened offer. Between that and Sprint's lawsuit, we're not expecting Dish to make another acquisition attempt, especially when Softbank's acquisition of Sprint (and thus Clearwire) could close in a matter of weeks.

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Via: Bloomberg News (Twitter)

Source: Dish

Twitter acquires Spindle, a ‘news feed for your neighborhood’

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Twitter acquires Spindle, a social network with an emphasis on local updates

Good news for the folks at Spindle came today, as the provider of hyperlocal offers from businesses was acquired by Twitter. Described by the company as, "a tool for tuning into your surroundings," the service pulls updates from Twitter and Facebook and categorizes offers around themes such as restaurants and shopping. Spindle also includes a social element, with the ability to share check-ins through Facebook and Twitter. The service is currently limited to 11 cities, which includes New York, Los Angeles, San Francisco and Chicago, but according to the company, "By joining forces with Twitter, we can do so much more to help you find interesting, timely, and useful information about what's happening around you." As sad news to current users of Spindle, however, the service will shut down effective today, as the team prepares for its transition to the Twitter team in San Francisco. At any rate, it looks like the folks at Lucky Sort won't be the rookies of Twitter HQ anymore. For a peek at what Spindle entails, just hop the break.

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Via: All Things D

Source: Spindle

Google confirms acquisition of Waze

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Waze for Android

One of the more persistent acquisition rumors as of late has come true: Google just confirmed that it bought Waze. As many expected, the deal will see Waze largely operate independently of its new parent while supplying Google Maps with traffic update features. The stand-alone Waze app, meanwhile, will receive some of Google's know-how in search. While the two sides haven't discussed the much ballyhooed (and reportedly $1 billion-plus) purchase price, we suspect it was just large enough to snub Facebook.

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Source: Google Official Blog

Yahoo to Buy Tumblr and Update Flickr

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Marissa Mayer has her eyes set on purchasing Tumblr. It will be quite an asset in Yahoo’s arsenal. In a move meant to cement the image of Yahoo, she plans on updating Flickr. The press has been...
    


Battle for Dell continues as shareholders Icahn, Southeastern partner on an offer

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Michael Dell's deal with Microsoft to buy back the computer company bearing his name hasn't gone through yet, and tonight two of its largest shareholders joined forces on another option. Carl Icahn and Southeastern Asset Management have both opposed the $24.4 billion / $13.65 per share buyout proposal from the start and have an alternative proposal: a $12 per share dividend, funded by Dell's $9 billion in cash and $5.2 billion in new debt. If that's not accepted, the two also claim to be ready to put up a slate of 12 directors ahead of Dell's annual shareholder meeting, or take their challenge to the courts. Even with the reported withdrawal of a counter offer from Blackstone Group, things remain complicated -- we'll wait and see if any of these threats go through, or if they successfully wrangle a better buyout offer from Dell, Microsoft & Co.

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Source: Wall Street Journal

Wavii confirms acquisition by Google, starts to wind down its own service

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Wavii confirms acquisition by Google, starts to wind down its own service

There was an odd level of uncertainty surrounding Google's reported buyout of Wavii: where Google usually mentions acquisitions in short order, mum's been the word for much of the past week. Thankfully, we won't be left hanging over the weekend -- Wavii has stepped forward to confirm the deal is happening. Neither side has discussed the terms involved, but Wavii chief Adrian Aoun made it clear the acquisition is for the technology first and foremost. Wavii's info summarization service will be shutting down, while the company's expertise in natural language processing should find its way into future Google projects. It's sad to see another independent service absorbed by a much larger company, but we're at least likely to see the fruits of Wavii's labor through some very public channels.

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Via: TechCrunch

Source: Wavii

Reuters: Verizon lining up $100 billion bid to buy out Vodafone’s share of VZW

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Word that Verizon would like to buy out Vodafone's 45 percent share of Verizon Wireless is hardly new, but Reuters reports it may finally be financially ready to take that step. According to unnamed sources, it's hired bank and legal advisers to prepare the bid, raising $50 billion in bank financing plus $50 billion in its own shares. Friendly discussions are said to start "soon," but if Vodafone is not interested it could take its bid public. It's probably no coincidence that the news is leaking just before Verizon's board meets to discuss a buyout before its regular shareholders meeting, but there are some potential complications. One holdup has been a potential hefty tax bill, but the Verizon CFO has been quoted saying he thinks that can be avoided, giving it more flexibility based on the cash generated by the wireless business.

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Source: Reuters