Rande Is . . . HOME Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Rande Is . . . HOME

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Bucky Katt who wrote (8796)	6/29/1999 10:22:00 AM
From: StockHawk	Read Replies (1) of 57584

Looks like CMGI is reacting favorably to the Alta Vista news. From the press release: Under the terms of a definitive agreement, Compaq will transfer 83.0 percent equity ownership in the AltaVista business to CMGI. Compaq will retain 17.0 percent equity ownership in the AltaVista business and hold a Board seat. In return, Compaq will receive 19.0 million CMGI common shares and CMGI preferred shares equivalent to 1.8 million CMGI common shares, which combined, would represent a 16.4 percent fully diluted equity stake in CMGI. In addition, CMGI will issue a $220 million three-year note to Compaq, bringing total consideration for CMGI's 83 percent ownership in the AltaVista business to approximately $2.3 billion, implying a total value of $2.7 billion for AltaVista. Compaq will also take a seat on the CMGI Board of Directors and plans to announce the appointment to this new position in the coming months. The agreement, subject to normal regulatory approvals, is binding on both parties and does not require shareholder approval for the closing.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next