Facebook Buys WhatsApp for $16 Billion | Tattle Tailzz

Facebook Buys WhatsApp for $16 Billion

Mark Zuckerberg

TechTailzz: Facebook announced on today Wednesday February 19, 2014  that they are acquiring  mobile voice messenger app WhatsApp for approximately $16 billion, including “$4 billion in cash and approximately $12 billion worth of Facebook shares.”

Read Facebook’s full statement below:

On February 19, 2014, Facebook, Inc. (“Parent”) entered into an Agreement and Plan of Merger and Reorganization (the “Merger Agreement”) with Rhodium Acquisition Sub II, Inc., a Delaware corporation and wholly owned (in part directly and in part indirectly) subsidiary of Parent (“Acquirer”), Rhodium Merger Sub, Inc., a Delaware corporation, a direct wholly owned subsidiary of Acquirer (“Merger Sub”), WhatsApp Inc., a Delaware corporation (“WhatsApp”), and Fortis Advisors LLC, as the stockholders’ agent.

Pursuant to the terms of the Merger Agreement, Merger Sub will merge with and into WhatsApp (the “First Merger”), and upon consummation of the First Merger, Merger Sub will cease to exist and WhatsApp will become a wholly owned subsidiary of Acquirer. The surviving corporation of the First Merger will then merge with and into Acquirer, which will continue to exist as a wholly owned (in part directly and in part indirectly) subsidiary of Parent. Upon consummation (the “Closing”) of the transactions contemplated by the Merger Agreement (the “Merger”), all outstanding shares of WhatsApp capital stock and options to purchase WhatsApp capital stock will be cancelled in exchange for an aggregate of 183,865,778 shares of Parent’s Class A common stock (valued at $12 billion based on the average closing price of the six trading days preceding February 18, 2014 of $65.2650 per share (“Specified Price”)) and $4 billion in cash to existing WhatsApp securityholders, subject to certain adjustments such that the cash paid will comprise at least 25% of the aggregate transaction consideration. In addition, upon Closing, Parent will grant 45,966,444 restricted stock units to WhatsApp employees (valued at $3 billion based on the Specified Price).

 

Source

Both comments and pings are currently closed.
  • twanatells

    I need the owners of FB to be my mentor because they making money on top of money…. Lord knows I could use that type of money in my life…..

  • Coffy Brown

    I sure hope they dont fuck up the app – Whatsapp works well as it is for me when I talk to my friiends in Europe and Africa – They’ll probably do some bullshit that will make me not use it again – not looking forward to this merger!

  • Venessa Thomas

    Facebook is sooo fucking boring…