Shareholder sues Motorola Mobility over Google sale

By on August 18, 2011 at 9:06 AM.

Shareholder sues Motorola Mobility over Google sale

A Motorola Mobility shareholder has initiated a class-action lawsuit against the company after CEO Sanjay Jha announced intentions to sell the firm to Google for $12.5 billion. The shareholder hopes to block the sale and argues that Motorola Mobility failed to shop around for the best price. “The offered consideration does not compensate shareholders for the company’s intrinsic value and stand-alone alternatives going forward, nor does it compensate shareholders for the company’s value as a strategic asset for Google,” investor John W. Keating said in the lawsuit. “Motorola has experienced an economic resurgence since separating into two separate companies,” he added. “The Android smartphone technology it relies on continues to gain ground on Apple’s iPhone.” If the deal is approved, Motorola Mobility will pay its investors $40 per share in cash. More →

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Facebook stock sale would value company at $70B

By on April 28, 2011 at 1:18 PM.

Facebook stock sale would value company at $70B

That’s not a typo in the title, that’s seventy billion dollars… with a “b”. Reuters is reporting that a group of private investors is looking to offload nearly $1 billion worth of shares they hold in social networking company Facebook. The price per share puts Facebook’s valuation at nearly $70 billion. “The current deal, which includes stock held by Facebook employees, is awaiting approval from top Facebook executives including Chief Executive Mark Zuckerberg and Chief Financial Officer David Ebersman,” writes Reuters. “The sellers have lowered their price after previously trying to offload shares at a price that valued the company at $90 billion, which would make Facebook more valuable than Time Warner Inc and News Corp combined.” Facebook declined to comment on the report. More →

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Angry Birds developer Rovio sets sights on New York IPO

By on March 18, 2011 at 4:20 PM.

Angry Birds developer Rovio sets sights on New York IPO


It may soon be possible for you to own your own slice of the Angry Birds empire. Days after announcing $42 million in Series A funding, Rovio’s board chairman has expressed interest in seeking an initial public offering in the United States, according to statements made to Finnish business magazine Talouselama. “The plan is to seek an IPO in New York, but the specific timing and details are still open,” Ville Heijari, a Rovio spokesperson confirmed to Reuters in an email on Friday. Angry Birds has been a smash hit since its launch, and has boosted its fan base by issuing frequent seasonal updates across multiple platforms. More →

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