Breaking: Microsoft To Buy Nokia’s Device Business in Deal Worth $7.17 Billion | TigerDroppings.com
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stendulkar
LSU Fan
Member since Aug 2012
541 posts

Breaking: Microsoft To Buy Nokia’s Device Business in Deal Worth $7.17 Billion

quote:

Microsoft announced late Monday that it is buying the majority of Nokia’s cell phone unit for 3.79 billion Euros ($5.0 billion) and spending another 1.65 billion Euros ($2.18 billion) to license Nokia’s patent portfolio for a total of 5.44 billion euros ($7.17 billion).

Once the deal is done, a number of Nokia executives will join Microsoft including Stephen Elop, a former Microsoft executive seen as among the top contenders to replace CEO Steve Ballmer. Also set to join Microsoft are Jo Harlow, Juha Putkiranta, Timo Toikkanen and Chris Weber.
For now, Elop is stepping aside as Nokia CEO to become executive VP of devices and services. Nokia Chairman Risto Siilasmaa will serve as interim CEO.

“For Nokia, this is an important moment of reinvention and from a position of financial strength, we can build our next chapter,” said Siilasmaa “After a thorough assessment of how to maximize shareholder value, including consideration of a variety of alternatives, we believe this transaction is the best path forward for Nokia and its shareholders.”

The move is a clear sign that Microsoft believes it can and must succeed in the phone business and that it cannot afford to leave the success in the hands of a partner–even one like Nokia that had bet its future on Microsoft’s phone software.

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This post was edited on 9/2 at 11:02 pm



lynxcat
Rutgers Fan
Member since Jan 2008
14924 posts

re: Breaking: Microsoft To Buy Nokia’s Device Business in Deal Worth $7.17 Billion
Holy goodness...well the next CEO now has his deck of cards to play with. Risky play.


stendulkar
LSU Fan
Member since Aug 2012
541 posts

re: Breaking: Microsoft To Buy Nokia’s Device Business in Deal Worth $7.17 Billion
The current Nokia CEO Stephen Elop is the front runner to succeed Steve Ballmer.


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LSUlunatic
Butler Fan
Member since Dec 2006
6306 posts

re: Breaking: Microsoft To Buy Nokia’s Device Business in Deal Worth $7.17 Billion
Wonder if this has anything to do with that activist investor joining their board?


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stendulkar
LSU Fan
Member since Aug 2012
541 posts

re: Breaking: Microsoft To Buy Nokia’s Device Business in Deal Worth $7.17 Billion
$7.2B cash, i.e. ~$1.92 per share? So add the $1.92 to the $4 ish price, are we looking at NOK pushing $6 tomorrow?


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LSUtoOmaha
LSU Fan
Nashville
Member since Apr 2004
21757 posts

re: Breaking: Microsoft To Buy Nokia’s Device Business in Deal Worth $7.17 Billion
This sounds like a terrible decision on the surface.


foshizzle
LSU Fan
Washington DC metro
Member since Mar 2008
31735 posts

re: Breaking: Microsoft To Buy Nokia’s Device Business in Deal Worth $7.17 Billion
quote:

This sounds like a terrible decision on the surface.


ISWYDT

All kidding aside, it will take quite a bit more than this to compete effectively but they appear to understand this will be a long slog if they have any chance at all.


stendulkar
LSU Fan
Member since Aug 2012
541 posts

re: Breaking: Microsoft To Buy Nokia’s Device Business in Deal Worth $7.17 Billion
HEL:NOK1V up 36% on the day so far in Europe

NOK also up 36% in pre-market trading at NYSE...current bid $5.34. Friday close was $3.90.


OTIS2
LSU Fan
NoLA
Member since Jul 2008
30606 posts
Online

re: Breaking: Microsoft To Buy Nokia’s Device Business in Deal Worth $7.17 Billion
Only wish I had more NOK.


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nolanola
Member since Nov 2010
5198 posts

re: Breaking: Microsoft To Buy Nokia’s Device Business in Deal Worth $7.17 Billion
quote:

Microsoft


quote:

Nokia




Apple & Google

:stacked:


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