Friday, November 7, 2008 - Ebay takes over "Bill Me Later Inc" - borrows $1 billion.
http://www.reuters.com/article/mergersNews/idUSN0633945120081106
EBay gets antitrust OK to buy Bill Me Later
WASHINGTON, Nov 6 (Reuters) - Online auction company eBay Inc (EBAY.O: Quote, Profile, Research, Stock Buzz) has received U.S. antitrust approval to buy Bill Me Later Inc, the Federal Trade Commission said on Thursday.
EBay had announced plans for the acquisition in mid-October, saying it would pay about $924 million for the company. EBay has borrowed $1 billion under its revolving credit facility to finance the transaction, and other general corporate services, the company said on Oct. 17.
News that the deal was approved came in a listing of approved deals that the FTC issues several times a week.
U.S.-based Bill Me Later offers consumers deferred payments and financing promotions. (Reporting by Diane Bartz; Editing by Tim Dobbyn)
(A billion bucks in debt? What better time to leave ebay)
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