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Technology Stocks : CMGI What is the latest news on this stock?
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To: bundashus who wrote (8422)5/19/1999 9:17:00 PM
From: George Martin  Read Replies (1) of 19700
 
Hi, bundashus -- CMGI takeover / controlling interest in Lycos seems to be in play, as you noted.

As PAL mentioned (post #8400), may have to wait until mid July to see how this particular scenario plays out. For one thing, there's a 35 million $ penalty fee to be paid to USAI, if Lycos is taken over by some one else prior to 7/15. Probably, negotiated by Diller in exchange for dropping the deal which was obviously dead anyway.

All things considered, I have the feeling DW would rather not pay Diller anything and he'll wait, thank you !

Also, at the shareholder meeting last Thursday (5/13) the CFO stated that authorization for 400,000,000 shares was needed BOTH FOR FUTURE SPLITS AND TO BE READY FOR ACQUISITIONS - PLURAL. Lycos deal would take a pretty fair chunk of that -- owning 20 % already obviously helps.

Good luck,

George Martin
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