Google Calls Off Digg Deal
The Google/Digg acquisition negotiations were in full swing, had passed the term sheet stage and the two companies were in final negotiations. But sometime this last week Google walked from the deal.
Digg was notified on late Thursday or Friday about the deal getting canceled. Two sources close to the companies said that some issue that came up during technical due diligence was to blame. One source said Google decided after spending more time with Digg’s top team that there just wasn’t a fit.
What is going to happen with Digg now? Are they still going to hangout with boutique investment bank Allen & Company to represent them in the sale?