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Technology Stocks : ABACUS DIRECT CORP. (ABDR)

ABDR 0.300

0.0%

Nov 19 4:00 PM EST

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To: D. K. G. who wrote (58)	6/14/1999 7:08:00 AM
From: D. K. G.	of 60

DoubleClick Merging With Abacus dailynews.yahoo.com NEW YORK (Reuters) - Web advertising company DoubleClick Inc. (Nasdaq:DCLK - news) said it is merging with marketer Abacus Direct Corp. (Nasdaq:ABDR - news), in a stock deal valued at $1 billion, the Wall Street Journal reported Monday. The deal is expected to be announced Monday, the paper said in its electronic edition. Under the proposed pact, DoubleClick will issue 1.05 shares of its common stock for each share of Abacus stock, the paper said. Abacus shareholders will own 20.5 percent of the combined company, to be called DoubleClick. Friday, DoubleClick's shares closed at 88-13/16, while shares of Abacus closed at 74-9/16. The deal will help DoubleClick to become better able to put an ad or offer for a product before the specific Internet customers most likely to buy, the paper said. Abacus will provide DoubleClick with a rich trove of data, including products that consumers have previously purchased.

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