(Associated Press) Google is finally ready to split its stock for the first time, more than three years after co-founders Larry Page and Sergey Brin began discussing a move engineered to ensure they remain in control of the Internet’s most powerful company.
The split is scheduled to occur April 2. It had been delayed because of staunch resistance from other Google Inc. shareholders, who feared the maneuver would unfairly benefit Page and Brin at the expense of just about everyone else.
Google proposed the unorthodox split so that Page and Brin could preserve power in the company they started in a rented garage more than 15 years ago. It addresses concerns that the founders would lose control of Google as the company creates more shares to compensate its employees and buy startups.