WSJ: Diller close to $2 billion deal for Ask Jeeves
New York – Barry Diller’s InterActiveCorp (IAC) is near a $2 billion deal to buy search engine Ask Jeeves, according to a report in Monday’s Wall Street Journal.
The corporate boards from both companies were in talks all weekend negotiating what appears to be an all-stock deal. If approved, the price tag would be a substantial premium over Ask Jeeves valuation of $1.4 billion as of Friday’s stock market close.
The acquisition of Oakland, California-based Ask Jeeves by IAC would mean they own a known brand name and get a foothold in revenues from search engine advertising. The company also would become a direct competitor with companies such as Google, Yaho and …
For: Wikinews
Tags: California, Media, Money, Technology
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