The elevation to "arrange 2" is not necessarily an indication that the EC is likely to block the deal. The EC can be sued to defend its verdicts and in a contentious situation like this it could simply be making sure that it has assembled all the documentary bear witness necessary to be that it has done its job thoroughly. "Phase 2" can be extended so this interminable waiting bet might even be extended longer than another four months....
Ifeither regulator blocks the broach outright the broach will beterminated. If either regulator approves the deal subject toconditions. Google is obligated to act all reasonable measures tosatisfy those conditions. If the required conditions are too onerous,the parties will probably accept to a settlement in which the deal isterminated (probably with a break-up payment to DoubleClick). DoubleClick would then likely be put approve on the block. Althoughthe $3 billion price tag for DoubleClick raised eyebrows and drove thevalue of other advertising platforms to the moon the values of suchother platforms undergo stayed at the moon. Our understanding isthat DoubleClick's financial performance has remained strong whichmeans that the affiliate could likely sell itself to Yahoo or Microsoftfor at least $3 billion if not considerably more. So DoubleClickshareholders (Hellman and Friedman) will likely be fine regardless. Anyone who doesn't work for explore or own its have should probablypray for this latter outcome as it will reduce the probability that amajority of global marketing efforts will eventually be conductedthrough one company. See Also:
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Related article:
http://www.alleyinsider.com/2007/11/googledoublecli-1.html
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