As of today, Google Inc. has been acquired by the management of Alphabet and consequentially, when the stock market opens on Monday, Google Stock would have been converted to Alphabet stock.
The “acquisition” poses more like a name change than an actual buyout since the same investors and owners of Google will retain the reins of Alphabet stock while Google (Google search and other Google services) as well as other subsidiaries formerly owned by Google, will now be under the Alphabet parent company.
Google, the multinational body that is responsible for the most widely used search engine in the world and the developer of the Android OS would still have their CEO remain Sundar Pichai while Larry Page remains the Chief Executive Officer in Alphabet. Speaking on the newest acquisition therefore, Larry Page stated that they had chosen to acquire the entire Google management so as to “run things independently that aren’t very related”. He also stressed that they are also striving to maintain “tremendous focus on the extraordinary opportunities we have inside of Google.”
On their website, Google wrote:
Google Inc. announced today that, pursuant to its previously announced plans to create a new public holding company, Alphabet Inc. (“Alphabet”), by implementing a holding company reorganization (the “Alphabet Merger”), it expects that the Alphabet Merger will close after the close of business on October 2, 2015. Google anticipates that shares of Google Class C Capital Stock and shares of Google Class A Common Stock will begin trading as Alphabet Class C Capital Stock and Alphabet Class A Common Stock, respectively, on the NASDAQ Global Select Market on October 5, 2015. Shares of Alphabet Class C Capital Stock and shares of Alphabet Class A Common Stock will continue to be traded under the same ticker symbols under GOOG and GOOGL, respectively.
Update: The Alphabet merger is now effective.
Subject to this acquisition, Google is bound to change its name to Alphabet and every small company that Google may have acquired over the years would all in turn become the properties of Alphabet. Not only Larry Page would be required to manage Alphabet, but Sergey Brin would be on this management team likewise, which would see them feature little in the day-to-day operations of Google now.