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Google To Pay At Least $300M In Stock To Settle Yahoo! Patent Suit

Law360 (August 10, 2004, 12:00 AM EDT) -- In a move that removes a legal threat looming over Google's initial public offering, the search engine has agreed to pay at least $300 million in stock to settle a patent infringement lawsuit brought by rival Yahoo!

The agreement gives Yahoo! an additional 2.7 million shares of Google stock in exchange for dropping a patent lawsuit involving a crucial piece of online advertising technology held by Yahoo!'s wholly-owned subsidiary, Overture.

The settlement is worth about $328 million, based on the midpoint in the $108- to $135-per-share range that Google has established for its initial public offering.

Overture's patent covers a version...

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