AOL Makes Offer for Sweden's TradeDoubler

01/15/07 - 02:01 PM EST

TSC Staff

Updated from 12:51 p.m. EST

Time Warner's(TWX Quote) AOL has offered to buy TradeDoubler, a Swedish online marketing company, for about $900 million in cash.

AOL announced the bid in a press release early Monday.

However, AOL likely will have to raise its offer after Alecta, a Swedish pension-fund manager and TradeDoubler's largest shareholder, rejected it, according to a report in The Wall Street Journal.

TradeDoubler's board supports the deal, and holders of about 20% of TradeDoubler's stock have already pledged their shares, the press release from AOL said.

TradeDoubler's stock trades on the Stockholm exchange.

Time Warner shares finished Friday up 11 cents at $22.73. U.S. markets are closed Monday in observance of Martin Luther King's birthday.

Back to Yahoo

Your Recent Quotes: Quote Up0 | Quote Down0
 
Dow S&P 500 NASDAQ
Oil*
65.43
8,280.74
896.42
1,796.52
10 Yr
3.50%
223.32
26.91
49.20
-2.63%
-2.91%
-2.67%
Data delayed 20 min
Get Jim Cramer's Free Newsletter

The Daily Booyah!
Get your daily dose of Cramer in your inbox.
Submit
We respect your privacy.

Premium Stock Ideas
Access Action Alerts Plus to find out Cramer's latest picks now!

Brokerage Partners