Is the GRU takeover press release a fake?

Mar.22.05 | About: Answers Corporation (ANSW)

A "press release" - in a mixture of languages and riddled with grammatical errors - claims that GuruNet (ticker: GRU), the owner of the search site, will be subject to a hostile takeover. Here's the text:

Sonae SGPS will launch a hostile takeover to buy GuruNet Corp .

Lisbon - Today the shareholders of Sonae SGPS they had approved a hostile takeover bid to GuruNet Corp .
Sonae SGPS, will notifie tomorrow the Portuguese National Securities
Market Commission (CNMV) that it was willing to waive the condition of
a 75% minimum acceptance level to which its public offer for the
acquisition of GuruNet Corp shares was subject, taking into
consideration that the response received will be sufficient to develop
the business project pursued through the takeover bid.
Sonae SGPS will launch a takeover bid for GuruNet Corp with the payment
of 25,0 euros for each of the that responded to the tender offer, this
initial offer could reach the limit of price of 27,15 euros for each
share of the american company.

For information please contact:
José Luís Amorim

Tel: 351 22 940 47 76

Fax: 351 22 940 46 34


Quick comments:

  • The "press release" was published on O Mocho.
  • Readers' competition: spot the number of grammatical errors.
  • Question: Why don't scammers ever write in good English?
  • The timing - the day after IAC's announcement of its acquisition of ASKJ - just seems too, well, coincidental.
  • The "press release" is the only article written in English (well, making allowances) in an otherwise Spanish forum.
  • Looks like GRU's stock and the SEC will have fun with this one.
  • Thanks to Josh Silverman for the tip.

GRU chart below: