Mountain View, CA (Reuters)

In a move that has the potential to rock and dislodge the underpinnings of the advertising community, Google announced a hostile takeover bid for holding company giant WPP.

With an enterprise value just shy of $11 billion Google is expected to pay up to a 60 percent premium for the firm raising the stock price to its 2000 high of $99 per share.

It is expected that Dr. Eric Schmidt, 56, recently sidelined as Google’s CEO will assume the CEO position at WPP as Sir Martin Sorrell, 66, who once described Google as a “frenemy”, takes the title of Executive Group Chairman.

Why would Google put its future at risk by assuming ownership of a major non-core business? Follow this link for a more in depth analysis:

1 comment:

George Parker said...

This smacks of my post today about me selling out AdScam to Interpublic for dumpster loads of dosh... Happy First...