Challenge to Google’s On2 takeover - FT.com
One of the latest controversies in the takeover world has developed around the proposed acquisition of On2 Technologies by Google. The deal is set for a vote by On2 shareholders on December 18, which could be a corporate version of this summer’s political town hall meetings. The deal is only for $106.5m (£65m, €71.5m), but it is interesting not only for the significance of the technology Google is acquiring, but also for the questions it raises about how boards of directors and managements should ensure the appearance and reality of their alignment with shareholder interests. The On2 deal is Google’s first acquisition of a public company, but it seems to have learned quickly, and there have been no complaints that Google’s management has not done a good job for its shareholders.
However, On2 Technologies’ management and board are being challenged by a dissident shareholder group, which claims it has about 55m of the 170m shares ready to support its opposition to the Google deal. There is no independent way to verify the weight of the dissidents, and the company’s general counsel says the 55m shares number “bears no relation to reality.” We’ll see who’s right on December 18.
or go to the yahoo site and see the pr Challenge to Google’s On2 takeoverONT
and at last the unbias video
