Zynga (ZNGA) Might Bid for 'Draw Something' Maker OMGPOP
Tweet
Share
E-mail
Get Alerts ZNGA Hot Sheet
Join SI Premium – FREE
Zynga (Nasdaq: ZNGA) shares saw an early-afternoon pop Monday following reports the company might be in talks for a strategic acquisition.
According to TechCrunch, Zynga might be eying Draw Something maker, OMGPOP. Discussions are said to be in preliminary stages; OMGPOP is getting interest from foreign investors as well.
The TechCrunch report said based on OMGPOP getting $17 million of funds to date, a potential buyout price would be $150 million to $250 million, a wide margin to be sure.
Zynga shares turned positive following the rumor after trading in the red throughout Monday's session, however have now turned negative again. The stock last traded at $13.01, down nearly 0.2 percent from Friday's close.
According to TechCrunch, Zynga might be eying Draw Something maker, OMGPOP. Discussions are said to be in preliminary stages; OMGPOP is getting interest from foreign investors as well.
The TechCrunch report said based on OMGPOP getting $17 million of funds to date, a potential buyout price would be $150 million to $250 million, a wide margin to be sure.
Zynga shares turned positive following the rumor after trading in the red throughout Monday's session, however have now turned negative again. The stock last traded at $13.01, down nearly 0.2 percent from Friday's close.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Bernstein on whether Hershey (HSY) could eventually step up to buy Mondelez (MDLZ)
- Myriad Uranium completes acquisition of Rush Rare Metals
- General Fusion lists on Nasdaq via SPAC merger with $150M in cash
Create E-mail Alert Related Categories
Mergers and Acquisitions, RumorsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
