MessageMedia Inc. (MESG) Message Board

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Technology Stocks : MessageMedia Inc. (MESG)

MESG 18.65

-25.4%

May 25 5:00 PM EST

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To: Chartgod who wrote (549)	6/1/2001 10:07:01 AM
From: Gutterball	Read Replies (1) of 553

DoubleClick to buy MessageMedia for $41 mln stock NEW YORK, June 1, (Reuters) - Online advertising firm DoubleClick said on Friday it agreed to buy MessageMedia in an all-stock transaction valued at about $41 million in order to expand its client base and acquire the company's e-mail marketing and messaging technology. The deal calls for DoubleClick to issue 0.0436 of a share of a common share for each MessageMedia common share, the companies said in a statement. Based on DoubleClick's average closing stock price in the 10 days ending Thursday, the exchange ratio represents a per-share price of 60 cents, a 42 percent premium over MessageMedia's closing price over the 10 days. MessageMedia, whose clients include Cisco Systems, E*Trade Group and FleetBoston Financial, closed at 43 cents on Nasdaq on Thursday. The companies said the transaction, which would be accounted for as a purchase, is subject to MessageMedia stockholder approval. They said they expect it to close in the third quarter.

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