CBS is acquiring CNET for $1.8 billion in cash. The purchase price comes to $11.50 per share, representing a 44.6 percent premium over last night’s closing price of $7.95. This is that big acquisition we’ve been waiting for from Quincy Smith’s CBS Interactive, and from CNET’s perspective, this avoids the proxy drama with Jana— it appears that this represents a nice profit for them, but the firm, we’re told, has no comment yet, and is looking into it. The deal was approved unanimously by the CNET board and is expected to close in Q3.
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*Source: PaidContent.org (
http://www.paidcontent.org/entry/419...-18-billion/)*
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