So The Internet's On Computers Now? (INET)
"Oh, they have the Internet on computers now!"-Homer Simpson
Yes Homer they have the internet on computers now, but it's also in private equity.
Internet Brands, Inc. (NASDAQ: INET) was acquired this morning at a substantial premium to Friday's closing price.
This morning, the company announced that an affiliate of Hellman & Friedman Capital Partners VI, L.P. agreed to purchase the company for $640 million, or $13.35 in cash, a 45% premium to Friday's close.
Internet Brands owns, operates, and develops branded Web sites, primarily sites related to automotive, careers, home, money and business, shopping, and travel.
Shares of INET are trading at $13.25, indicating that the transaction is likely to close, and there is no competing bid for the company.
Get free trades at tradeMONSTER!
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.