This looks pretty close to official to me:
Tuesday May 16, 1:34 pm Eastern Time
Telefonica says Terra-Lycos announcement 2000 GMT
MADRID, May 16 (Reuters) - An agreement between Spanish Internet company Terra and U.S. portal Lycos (NasdaqNM:LCOS - news) will be announced at 2000 GMT, a spokesman at Terra's parent company Telefonica said on Tuesday.
Sources familiar with the deal have said Terra will buy Lycos for about $10.6 billion, or $96.70 per share, in an all-share deal to create one of the world's four biggest Internet companies.
The Telefonica spokesman said a statement would be released at 2000 GMT, followed by a news conference in New York at 2100 GMT. ``It's to announce the Terra-Lycos agreement,'' he said, without providing further details.
The widely-flagged deal will see Terra offer 1.7 shares for each in Lycos, according to the sources. |
