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Strategies & Market Trends : LastShadow's Position Trading

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To: Jeff Jordan who wrote (16315)	6/29/1999 5:23:00 PM
From: Jeff Jordan	Read Replies (1) of 43080

CMGI will own 83 percent of AltaVista. In exchange, Compaq will receive 19 million CMGI common shares, plus preferred stock equivalent to 1.8 million CMGI shares, representing a 16.4 percent equity stake in CMGI, making Compaq its largest outside shareholder. CMGI will also issue a $220 million three-year note to Compaq, which will get a spot on CMGI's board of directors. The $2.3 billion valuation for an 83 percent stake implies a $2.7 billion value for all of AltaVista. CMGI shares rose $9.81, to $107.50, in midday trade on the Nasdaq stock market, while shares of Compaq rose 94 cents, to $23.25, on the New York Stock Exchange.

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