Feeds

AOL flees TradeDoubler

Shareholders snub offer

Next gen security for virtualised datacentres

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. ®

Secure remote control for conventional and virtual desktops

More from The Register

next story
BBC: We're going to slip CODING into kids' TV
Pureed-carrot-in-ice cream C++ surprise
6 Obvious Reasons Why Facebook Will Ban This Article (Thank God)
Clampdown on clickbait ... and El Reg is OK with this
Twitter: La la la, we have not heard of any NUDE JLaw, Upton SELFIES
If there are any on our site it is not our fault as we are not a PUBLISHER
Facebook, Google and Instagram 'worse than drugs' says Miley Cyrus
Italian boffins agree with popette's theory that haters are the real wrecking balls
Sit tight, fanbois. Apple's '$400' wearable release slips into early 2015
Sources: time to put in plenty of clock-watching for' iWatch
Facebook to let stalkers unearth buried posts with mobe search
Prepare to HAUNT your pal's back catalogue
Ex-IBM CEO John Akers dies at 79
An era disrupted by the advent of the PC
prev story

Whitepapers

Endpoint data privacy in the cloud is easier than you think
Innovations in encryption and storage resolve issues of data privacy and key requirements for companies to look for in a solution.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Advanced data protection for your virtualized environments
Find a natural fit for optimizing protection for the often resource-constrained data protection process found in virtual environments.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Next gen security for virtualised datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.