Notable Mergers and Acquisitions of the Day 3/7 (GOOG, MSFT, CJR, GLUU)

March 7, 2008 9:54 AM EST

StreetInsider.com Notable Mergers and Acquisitions of the Day:


  • Michael Arrington's Techcrunch reported that four companies are looking to buy Digg, but Arrington said, Google (Nasdaq: GOOG) and Microsoft (Nasdaq: MSFT) are very close to making bids for Digg.

    "Digg is prepared to take less than the $300 million Allen & Co. were floating late last year. Google, our source says, will likely bid $200-$225 million, which Digg would likely accept," says Arrington."

    There could be a bidding war for Digg between Microsoft and Google, but we will just have to wait and see.

  • Corus Entertainment Inc. (NYSE: CJR) announced that the Company has reached an agreement to purchase the analog specialty television service CLT (Canadian Learning Television) from CTVglobemedia. The transaction is subject to approval by the Canadian Radio-television and Telecommunications Commission (CRTC). The acquisition price for CLT is approximately $73 million Cdn (subject to the customary closing adjustments).

  • Glu Mobile (NASDAQ: GLUU) announced that as of 3:00 p.m. GMT on March 6, 2008 it had received valid acceptances representing approximately 81% of the issued share capital of Superscape Group plc ("Superscape") through its tender offer. Accordingly, as of 8:00 a.m. GMT on March 7, 2008, Glu declared the Offer unconditional in all respects and will now proceed to consummate the purchase of this ownership interest in Superscape and to apply to the UK Listing Authority for the delisting of Superscape shares. The transaction values Superscape at approximately $36 million, or $25 million when accounting for the $11 million of cash and equivalents held on Superscape's balance sheet as of October 31, 2007.

To see all the Mergers & Acquisitions for today in real-time go to http://www.streetinsider.com/Mergers+and+Acquisitions


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CJR 16.56

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GLUU 1.17

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GOOG 566.76

+4.25 +0.76%
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MSFT 29.01

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