Posted: 9:58a.m. MT
Palo Alto, Calif.- Early this morning Time Warner Inc. (TWX) was unexpectedly surprised when Google Inc. (GOOG) made a hostile takeover bid of $50 billion in cash and stocks involving the purchasing of TWX.
Dr. Eric Schmidt, CEO of GOOG believes it would be perfect to merge the two companies together by bringing the best products and customers together. He also stated “we pay a good price for a good company.” He hopes that by offering an overestimate that it will “sweeten the deal.”
TWX CEO Richard D. Parson’s was very shocked when he was offered the bid. He said “it’s interesting. the timing is interesting.” When he was asked how he feels about joining both companies he says "we're in a time of converting all media now."
At this time TWX hasn't made a decision but GOOG gas given them 30 days to decide.
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