9/29/2015, 1:51 PM (Source: TeleTrader)
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Axel Springer acquires Business Insider for $343 million

U.S. news portal Business Insider will be taken over by publishing company Axel Springer, headquartered in Germany, for $343 million (€306 million). The German company said it will raise its share in the website’s operator from 9% to 97%. Founder, CEO and editor-in-chief Henry Blodget and COO and president Julie Hansen remain as heads of Business Insider, the press release said. Axel Springer was down 1.32% to €51.74 at 1:30 p.m. CET in Frankfurt.

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