Amazon Acquires Audible for $300 Million

Amazon announced today that it has reached an agreement to acquire spoken content provider Audible.com for $300 million.

Under the terms of the agreement, Amazon.com will commence a cash tender offer to purchase all of the outstanding shares of Audible.com for $11.50 per share, or a 23 percent premium from their closing price of $9.33 on Wednesday. The online retailer will also assume Audible.com's outstanding stock-based awards, for an aggregate transaction value of approximately $300 million.

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