Deutsche Bank Downgrades AOL, Inc. (AOL) to Hold
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Verizon (VZ) to Acquire AOL (AOL) for $50/Share
May 12, 2015 7:01 AM EDTTaking another significant step in building digital and video platforms to drive future growth, Verizon Communications Inc. (NYSE: VZ) today announced the signing of an agreement to purchase AOL Inc. (NYSE: AOL) for $50 per share -- an estimated total value of approximately $4.4 billion.
Verizon's acquisition further drives its LTE wireless video and OTT (over-the-top video) strategy. The agreement will also support and connect to Verizon's IoT (Internet of Things) platforms, creating a growth platform from wireless to IoT for consumers and businesses.
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