Google Makes Hostile Takeover Bid for Time Warner
SAN JOSE, Cali.— Google Inc. (GOOG) made a hostile takeover bid involving the purchas of Time Warner Inc. (TWX) for $50 billion dollars. This bid has not been accepted yet.
Google CEO Dr. 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.”
Yahoo Inc. (YHOO) and Microsoft Inc. (MSFT) CEOs are discontent. Yahoo wanted to be bought by Time Warner while Microsoft was hoping to buy Time Warner. Negotiations and offers between the four companies will be held.
The offer that has been placed is $35 billion in cash, $10 billion in stocks, and $5 billion in assumed debt which Google would pay off.