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AOL Makes Offer for Sweden's TradeDoubler

TSC Staff

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.