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Google Will Not Acquire Akamai

Financial News Network
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October 14, 2011 AT 11:44 PM
Bloomberg reported that Google (NASDAQ:GOOG) is not acquiring Akamai (NASDAQ:AKAM) according to two individuals familiar with the matterBusiness Insider reported the story yesterday that fueled speculation.After the story was released, shares of Akamai rose as much as 17% in after hours trade.Akamai, which rapidly delivers online content for Netflix (NASDAQ:NFLX) and Apple (NASDAQ:AAPL), has been the topic of more buyout rumors than any other American company from 2005 to 2010.Google (NASDAQ:GOOG) has potential upside of 31.9% based on a current price of $548.5 and an average consensus analyst price target of $723.2.