Google Offers On2 An Additional $26.5 Million
Squeaky wheels may get a little grease, but apparently, it’s better still to be an angry and litigious shareholder. Following Google’s acquisition offer to On2 in August, On2 shareholders complained, and now, they may receive an extra $26.5 million for their trouble.
As we reported earlier, Google offered to acquire On2 for 60 cents per share (or $106.5 million in all). Then On2 gave its best quarterly financial report in more than a year, and shareholders were unable to find any evidence that any company other than Google had been given a chance to bid on it.
Two lawsuits were filed in an attempt to block the acquisition as a result.
So – at least to some degree – Google’s folded. A press release announced this morning that the search giant is willing to part with an additional 15 cents per share (which equals about $26.5 million and an overall increase of 25 percent).
Google, which has a market cap of almost $193 billion at the moment, won’t miss the extra money. The more interesting matter is whether this incident will start any sort of trend, with other companies’ investors also trying to bargain for better deals in the future.