Deals
AOL Jumps After $1.06 Billion Patent Accord With Microsoft
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AOL Inc., under shareholder pressure to make changes as revenue shrinks, agreed to sell and license patents to Microsoft Corp. in a transaction valued at $1.06 billion, triggering its biggest stock gain in two years.
AOL rose 43 percent to $26.40 at the close in New York, the biggest one-day increase since Nov. 25, 2009. The shares had lost 8.2 percent of their value in the past year before today. Microsoft, meanwhile, fell 1.3 percent to $31.10 today.