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Industry: Email Alert RSS FeedAmazon.com announces agreement to acquire Audible.com
M2 Best Books, Feb 1, 2008
M2 BEST BOOKS-(C)2000-2008 M2 COMMUNICATIONS LTD
Amazon.com Inc (Nasdaq:AMZN), an on-line retailer, on Thursday (31 January) announced that the company has entered into an agreement to acquire Audible Inc (Nasdaq:ADBL), an online provider of digital spoken word audio content.
Audible.com reportedly offers over 80,000 programmes, including audio books from authors such as Stephen King, Thomas Friedman, and Jane Austen, and spoken word audio content from sources including The New York Times, The New Yorker, Fresh Air and Charlie Rose. Under the terms of the agreement, Amazon.com will commence a cash tender offer to purchase all of the outstanding shares of Audible.com for USD11.50 per share. The company will also assume Audible.com's outstanding stock-based awards, for an aggregate transaction value of approximately USD300m, which includes Audible.com's cash and short-term investments at closing.
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The acquisition is expected to close by the second quarter of 2008.
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