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Opera's $1.2 billion takeover is no more, new deal proposed
The original deal was to buy 100 percent of Opera’s operations. Interestingly, the price proposed is actually 53% higher than what Opera’s trading price states. Opera released a statement (PDF here) saying that they have unanimously decided to recommend that the shareholders accept the deal. This fell through, however, do to regulatory issues. Now a new deal has been proposed.
The same consortium proposed a new deal priced at $600 million for a lesser stake in Opera
As stated, since this is not a 100% buyout, there are a few services that will not be handed over to Golden Brick. These include Opera Mediaworks, Opera Apps and Games, and Opera TV. Opera will also keep about 560 employees from their 1600 employee base.
Opera’s name and logo will also be going to Golden Brick, so the remaining company will have to find a new name, according to Opera.
The new deadline for the deal is October 31, 2016 with an automatic extension to December 31, 2016 if both sides are not ready yet. If it does not go through this time, Golden Brick could face $100 million in fees and only $40 million if the issue is regulatory again.