Google Expects to Raise $4B in Stock Sale

Share this article:
Google, which had its IPO a year ago today, will sell 14.2 million new shares to raise money for possible acquisitions and general business expenses, according to a document the company filed yesterday with the Securities and Exchange Commission.


However, the Mountain View, CA, company said it has "no current agreements or commitments with respect to any material acquisitions."


Google stock fell 1.79 percent on the news yesterday, closing at $279.99. At that price, the offering would raise about $4 billion. Google's stock price was as high as $317 in the past month.


Google already has just under $3 billion in cash and short-term investments on hand, so it is unclear what it needs money for unless it's shopping for a large acquisition. Analysts speculated yesterday that the company is eyeing China's Baidu.com search provider, of which it already owns 2.6 percent. Google officials were mum because the company is in a quiet period related to the offering.


Google earned $399.12 million and had revenue of $3.19 billion last year.


Morgan Stanley, Credit Suisse First Boston and Allen & Co. are the offering's underwriters.


Share this article:

Follow us on Twitter @dmnews

Latest Jobs:

Featured Listings

More in Digital Marketing

News Byte: CX Scores to Take Their Place Beside Price Listings

News Byte: CX Scores to Take Their Place ...

E-commerce aggregator PriceGrabber will begin offsetting price info with service expectations.

Data Byte: Interactive Ad Revenues Exceeding TV for the First Time

Data Byte: Interactive Ad Revenues Exceeding TV for ...

At nearly $43 billion, interactive advertising revenues exceeded broadcast for the first time in 2013.

Marketers: Data Rich and Knowledge Poor

Marketers: Data Rich and Knowledge Poor

While advertisers have become incredibly data-savvy, the most difficult challenge remains causally linking that data to outcomes that really matter.