Here is a report on the same news, but with a slightly more negative spin.
Alternative Merger Deal For Lycos May Come Soon (LCOS) - Report
Newstraders - March 11, 1999 10:05
(NewsTraders.com)-- An official at CMGI Inc. (CMGI) said that an alternative merger deal for Lycos (LCOS) could be announced "within several days," according to the Boston Globe.
Highlights:
- As widely reported, CMGI, which has about an 18.5% stake in Lycos, hired Morgan Stanley to seek alternative suitors for the search engine company. CMGI chief David Wetherall resigned from his Lycos board position earlier this week to better fight the company's pending merger with Barry Diller's USA Networks (USAI).
- One possibility is that CMGI could launch its own bid for Lycos.
- Bill White, managing director of CMGI, is the official who indicated that another deal could be announced soon.
- White said that potential merger partners include firms Lycos originally talked to before choosing to lock arms with USA Networks. That cast of characters includes Time Warner (TWX), CBS Corp. (CBS), General Electric's (GE) NBC arm, and Germany's Bertelsmann.
- Sources close to Lycos said the company would consider other offers, but they don't believe CMGI could find an offer better than USA's.
Copyright 1999 NewsTraders Inc. All Rights Reserved 10:05 Thursday, March 11, 1999
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