Weil Aids Verizon In $1.4B Bid For Cloud Computing Co.

Law360, New York (January 28, 2011, 2:27 PM EST) -- Verizon Communications Inc. will launch a $1.4 billion tender offer to acquire cloud computing specialist Terremark Worldwide Inc., which offers Web-based software for businesses, according to the companies.

The New York-based telecom giant said Thursday it would commence its offer starting Feb. 10, and that its $19 per-share purchase represented a 35 percent premium over Thursday's closing price for Terremark shares on the Nasdaq stock exchange.

The announcement, which the companies said would "decisively reshape the rapidly evolving global business technology solutions market," triggered a 34.9...
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