Simpson Thacher and Latham on AOL acquisition of Huffington Post for $315 million
The US internet company, AOL Inc. has bought Huffington Post for $315 million (Rs. 1,480 crore). The Am Law Daily reports that AOL will pay $300 million in cash, while the remainder of the payment will come in the form of stock. The acquisition, which is expected to close early in the second quarter of 2011 at the latest, creates a new media group that the companies expect will draw 270 million unique global visitors each month.
Simpson Thacher & Bartlet advised long standing client AOL Inc. with a team led by Palo Alto-based M & A Partner Peter Malloy along with Tax Partner Katharine Moir, Intellectual Property Partner Lori Lesser and Executive Compensation Partner Tristan Brown. AOL's was also advised by its General Counsel, Julie Jacobs.
Latham & Watkins advised Huffington Post with Los Angeles Partner Alex Voxman, Counsel David Blood, Benefits and Compensation Partner Laurence Seymour, Tax Partner Samuel Weiner, Antitrust Partner Abbott "Tad" Lipsky and Antitrust Counsel Sydney Smith.
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