Google Closes YouTube Acquisition
Written by on November 14th, 2006 in Ajax News.
Google announced today that they have completed the previously announced acquisition of YouTube.
The final price included $15 million in cash, 3,217,560 shares of Google Class A Common Stock, along with an additional 442,210 shares of restricted stock and warrants. The number of shares was determined by dividing the acquisition price, $1.65 billion, by an average value of Google stock over the last thirty days (this is a standard way of handling public company acquisitions). 12.5% of the stock is being held in escrow for one year.
Based on today’s closing price of $481.03 per share, the deal is already worth $1.775 billion to YouTube’s shareholders.
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Source: TechCrunch
Original Article: http://feeds.feedburner.com/~r/Techcrunch/~3/49074790/