AOL Finalizes Millennial Media Acquisition

AOL completed its acquisition of end-to-end mobile platform Millennial Media (see 1509030062), it said in a news release Friday. AOL made a tender offer of $1.75 in cash per share of Millennial Media common stock, which expired at midnight Thursday, it said. At the expiration of the tender offer, nearly 115 million Millennial shares were validly tendered, or about 80.3 percent of its outstanding shares, said AOL, which completed the acquisition of the remaining eligible shares not acquired in the tender offer. Millennial Media is now an AOL subsidiary, AOL said. AOL itself has been bought by Verizon (see 1505120019).