Mergers and Acquisitions Review: Facebook’s Instagram Buyout OKAYED, Zynga DENIES Sale Possibility
Facebook’s (NASDAQ:FB) acquisition of Instagram may go forward and close, as the Federal Trade Commission on Wednesday unanimously voted to conclude its inquiry into the matter. Fortunately for the buyer (in a way), the purchase will now cost a mere $747 million since its stock price has declined so much. On the upside, the acquisition will assure Facebook’s dominance in photo sharing.
Hertz Global Holdings, Inc. (NYSE:HTZ) has requested that Dollar Thrifty Automotive Group Inc. (NYSE:DTG) shareholders come to a consensus on a selling price, say sources. If this report is accurate, it could mean that regulatory matters are near conclusion so that the long-running purchase proposal might be close to completion. Some optimistic observers foresee a share price range between $85 and $90 for Dollar Thrifty
Top employee exits continue at Zynga (NASDAQ:ZNGA) while it’s said that the remaining management still rules out a sale, says Bloomberg. CityVille general manager Alan Patmore is leaving for “hardcore” gaming startup Kixeye, but the company recently issued equity grants, hoping that it might deter unhappy employees from leaving. However, some analysts believe that an activist push is possible as Zynga shares now trade near cash levels.
Don’t Miss: Why are Facebook Founders DUMPING Shares?
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