Facebook extends closing of WhatsApp acquisition by a year

July 27, 2014 11:15

Social networking giant Facebook has extended by a year the closing of its landmark USD 19 billion deal to acquire instant messaging app WhatsApp. The California-based firm will have to pay WhatsApp USD 1 billion in cash and USD 1 billion in stock options in case it fails to close the deal in the stipulated time.

Facebook said the acquisition is subject to customary closing conditions, including regulatory approvals, and is expected to close in the second half of 2014.

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