Feeds

AOL flees TradeDoubler

Shareholders snub offer

Top 5 reasons to deploy VMware with Tegile

AOL has walked away from TradeDoubler, after failing to get enough acceptances for its $900m all-cash offer for the Swedish company. In January, the Time Warner subsidiary sweet-talked Tradedoubler's board in to recommending the offer, which was worth around four times annual sales.

We thought that this was an over-generous offer for an online advertising sales house, but many shareholders disagreed. Alecta, a Swedish pension fund, which holds 10.01 per cent, said it would reject the deal, as it thought it undervalued the company. By itself, Alecta had a blocking stake - AOL needed 90 per cent of the stock to force remaining shareholders to sell out. But many other shareholders appear to have sided with Alecta - AOL says it had received acceptances "relating to a limited number of shares" only.

The deadline for AOL's target was yesterday: today's withdrawal indicates that it has no wish to merely be a minority shareholder in a Swedish-domiciled firm. AOL will not exercise its options to buy shares offered to the company. And it has no plans to return to acquisition talks, company spokesman Andrew Weinstein said.

We infer that Tradedoubler's board owned most or all of the 20.1 cent of the shares irrevocably offered to AOL when the proposed deal was announced on January 26. We also infer that, today, they are not exactly happy bunnies. ®

Remote control for virtualized desktops

More from The Register

next story
Bladerunner sequel might actually be good. Harrison Ford is in it
Go ahead, you're all clear, kid... Sorry, wrong film
Euro Parliament VOTES to BREAK UP GOOGLE. Er, OK then
It CANNA do it, captain.They DON'T have the POWER!
Musicians sue UK.gov over 'zero pay' copyright fix
Everyone else in Europe compensates us - why can't you?
I'll be back (and forward): Hollywood's time travel tribulations
Quick, call the Time Cops to sort out this paradox!
Megaupload overlord Kim Dotcom: The US HAS RADICALISED ME!
Now my lawyers have bailed 'cos I'm 'OFFICIALLY' BROKE
Forget Hillary, HP's ex CARLY FIORINA 'wants to be next US Prez'
Former CEO has political ambitions again, according to Washington DC sources
prev story

Whitepapers

10 ways wire data helps conquer IT complexity
IT teams can automatically detect problems across the IT environment, spot data theft, select unique pieces of transaction payloads to send to a data source, and more.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
How to determine if cloud backup is right for your servers
Two key factors, technical feasibility and TCO economics, that backup and IT operations managers should consider when assessing cloud backup.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Choosing a cloud hosting partner with confidence
Download Choosing a Cloud Hosting Provider with Confidence to learn more about cloud computing - the new opportunities and new security challenges.