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NEW YORK - TV and radio broadcaster CBS Corp. said Friday it is offering $11.50 per share for all outstanding shares of online news and information Web site operator CNet Networks Inc. as part of its $1.8 billion buyout.
The offer follows an acquisition agreement signed by CNet, CBS and CBS subsidiary Ten Acquisition Corp. on May 15.
The share offer is set to expire at midnight EST, on June 20.
If CBS obtains a majority of shares, remaining shareholders will receive the same $11.50 per share offer.
San Francisco-based CNET provides technology, food and entertainment information through its CNet.com Web site and other consumer information sites.
Shares of New York-based CBS remained unchanged at $22.70 in after-hours trading. Cnet shares gained 2 cents to $11.44, from their regular session close at $11.42.
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