• Advertisement
To advertise, place classifieds free ads by category in a forum as a new topic, or in the classified display ads section, or start a classifieds free blog.

Opera Software shareholders back Chinese takeover bid

Opera Software shareholders back Chinese takeover bid

Postby smix » Wed May 25, 2016 1:04 pm

Opera Software shareholders back Chinese takeover bid
Reuters

URL: http://www.reuters.com/article/us-opera ... SKCN0YG0IE
Category: technologyNews
Published: Wed, 25 May 2016 04:11:30 -0400

Description: OSLO (Reuters) - More than 90 percent of Norwegian online browser and advertising company Opera Software's shareholders have backed a Chinese consortium's $1.24 billion takeover bid, clearing a big hurdle for the deal to go ahead, the buyers said on Wednesday. The bid was accepted by shareholders owning 90.6 percent of Opera's outstanding capital and 90.9 percent of the votes, preliminary numbers showed. The bidders had needed more than 90 percent by a May 24 deadline, and a source close to the deal told Reuters before the announcement that threshold had been cleared. The offer, unanimously endorsed by Opera's board, still needs approval from the U.S. and Chinese authorities. The consortium is made up of Qihoo 360 Technology Co Ltd, Beijing Kunlun Tech Co, Golden Brick Silk Road (Shenzhen) Equity Investment Fund and its Yonglian Investment affiliate. Opera has said the deal will allow it to reach more emerging market consumers. The Chinese offer of 71 Norwegian crowns ($8.51) per share equates to about 10 times the company's forecast core earnings. Opera shares rose 1.6 percent in early trade to 67.75 crowns.
User avatar
smix
 
Posts: 2118067
Images: 1
Joined: Sat Aug 10, 2013 8:05 am
Blog: View Blog (0)

  • Similar Topics
    Replies
    Views
    Last post

Return to Business Mergers, Acquisitions & Spin-offs


Mobile Device
  • 1
  • FREE CLASSIFIED ADS
    Free Classified Ads
    There are 3 ways to advertise - your choice: you can place free ads in a forum topic, in the classified display ads section, or you may start your own free blog. Please select the appropriate category and forum for the ad content before you post. Do not spam.
    Caveat emptor - let the buyer beware. Deal at your own risk and peril.
  • Advertisement