InfoSpace, Go2Net Deal Has $120 Million Termination Fee
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WASHINGTON -(Dow Jones)- The merger of Go2Net Inc. (GNET) and
InfoSpace Inc. (INSP) carries a $120 million termination fee, according
to a Form 8-K filed by Go2Net Monday with the Securities and Exchange
Commission.
The deal has a Jan. 3, 2001, termination date and must be approved by
shareholders of both the companies. It also carries a no-solicitation
clause and must meet antitrust provisions under the Hart-Scott-Rodino
Act.
InfoSpace said July 26 it agreed to buy Go2Net in a stock swap
initially valued at $4 billion. Under the terms of the deal, InfoSpace
will trade 1.82 of its shares for each share of Go2Net.
The companies hope to complete the purchase in the fourth quarter.
Go2Net, Seattle, is an Internet network company that provides consumer
services, business services, and enabling services.
InfoSpace, Bellevue, Wash., is a global Internet information
infrastructure company.
-Al Hennagir, Dow Jones Newswires/Federal Filings Business News;
202-628-9793
(This story was originally published by Dow Jones Newswires)
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