http://www.cnet.com/news/verizon-to-acquire-aol-for-4-4-billion-in-digital-push/
Verizon and AOL will soon come together under one roof.
Verizon will acquire AOL for $50 per share, valuing the company at $4.4 billion, Verizon announced on Tuesday. If the deal is approved by regulatory bodies, AOL will become a wholly owned subsidiary of Verizon. AOL's current chairman and CEO Tim Armstrong will continue to lead the subsidiary.
Interestingly, Verizon was quick to point out that the deal is a tender offer. What that means is the company will acquire all shares on the open market from current investors; the board at AOL is not required to approve the deal in order for it to go through. Such a deal usually carries a premium to entice shareholders to accept the offer. In the case of AOL, Verizon is offering a 17 percent premium on AOL's closing price of $42.59 on Monday.
AOL shares are up nearly 18 percent to $50.12 in pre-market trading.