DEAL....ATHM/XCIT
MSNBC reporting that ATHM will
announce purchase of XCIT tomorrow..
If true this should pop all the nets
portals especially ................
If long I would sell into a 'gap' up
opening...look to re-enter any of the
portals on a early morning pull-back..
Jim in CT..
To: Rande Is (2061 )
From: Alan
Tuesday, Jan 19 1999 12:35AM ET
Reply # of 2069
ATHM to buy XCIT
mercurynews.com
NEW YORK, Jan 19 (Reuters) - AtHome Corp.
(Nasdaq:ATHM - news) is close to an agreement to buy Internet
search and directory provider Excite Inc. (Nasdaq:XCIT - news),
the Wall Street Journal Interactive edition said on Tuesday.
People familiar with the planned deal told the Journal that terms were not available. Excite's current
market value is about $3.5 billion, but the company could fetch a premium above that, one person
familiar with the negotiations told the Journal.
AtHome, which provides high-speed Internet service over cable-TV lines, has a market value of
$11.7 billion and is expected to issue stock in any deal, the paper said. A deal could be announced
on Tuesday.
Over the weekend, Excite was also in talks with its chief rival Yahoo! Inc. (Nasdaq:YHOO - news).
Those talks however ended, the paper said.
AtHome and Excite, which are neighbors in Redwood City, Calif., share some common investors
and are likely to face tough battles in building Internet audiences.
AtHome shares closed Friday at $102, down 63 cents, in trading on the Nasdaq Stock Market. |
