M&A Recap: CBS in the GREAT OUTDOORS, Oracle Gets SNAPPY
CBS (NYSE:CBS) will entertain bids for its outdoor billboard business, following being approached by banking interests who are looking for buyers, says a Bloomberg report. However, the price could be the fly in the ointment, as the Wall Street Journal says that CBS wants $6 billion, and that potential acquirers think the unit’s value is more like $4 billion. JCDecaux is among the list of prospective suitors.
Don’t Miss: Delta Sees HUGE DOLLAR SIGNS in This Market.
Oracle (NASDAQ:ORCL) purchases Collective Intellect, which develops cloud-based tools that enable companies to monitor and respond to Facebook/Twitter conversations. This acquisition closely follows Oracle’s deal to snap up the social media marketing company Vitrue, which was a day after it at least looked at the latter’s rival Buddy Media, which Salesforce.com (NYSE:CRM) finally bought.
On the heels of its purchase of Meebo and KikScore, Google (NASDAQ:GOOG) acquires Quickoffice, which produces a popular productivity suite for iOS and Android devices. If Google integrates its latest purchase with Android, the deal could reinforce the latter’s position in the enterprise market, in which the iPhone (NASDAQ:AAPL) is coming off better. All this precedes the expected intro in November of iPad and Android versions of Microsoft Office (NASDAQ:MSFT).
Want news like this in real-time so you can get an edge? Click here for Wall St. Cheat Sheet Pro.