CNET: Target of Hostile Takeover?Posted 6:48pm Mon Jan 07, 2008 by Solomon Lee
Tags: CNET, People, Takeover, Rumor
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According to the rumor mill, reports have surfaced that CNET is being targeted by a consortium group (with a 21 percent stake) seeking to establish majority rule over CNET's board and to remove the company's directors in a hostile takeover bid.
This consortium group, led by Jana Partners and Sandell Asset Management, has been heavily criticized by Wall Street analysts with CNET stating the group's intention to control the company's board to be in direct violation of its bylaws. CNET has not commented on the specific details at this time.
CNET is the owner of the Gamespot and GameFAQs websites.
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