Facebook to acquire WhatsApp for $16B

Facebook to acquire WhatsApp in deal valued at $19BThe social network is throwing down billions of dollars of cash and stock to buy its biggest messaging rival. Facebook said Wednesday that it has agreed to acquire WhatsApp in a $19 billion arrangement with the popular messaging application’s parent company. The announcement was made in a filing with the Securities and Exchange Commission. The deal for WhatsApp includes 183,865,778 shares of Facebook stock, valued at $12 billion, along with $4 billion in cash. Facebook also promised to grant 45,966,444 restricted stock units to WhatsApp employees, taking on an additional $3 billion to the deal. This story is developing. Refresh for updates.