Premiere Technologies (PTEK) Message Board

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Technology Stocks : Premiere Technologies (PTEK)

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To: PekingYen who wrote (710)	5/21/1999 3:27:00 PM
From: GJLevine	Read Replies (3) of 1270

DJ Premiere Tech/WebMD Stake -2: Premier Expects 5.2M Shrs ATLANTA (Dow Jones)--Assuming completion of WebMD Inc.'s merger with Healtheon Corp. (HLTH), the value of Premier Technologies Inc.'s (PTEK) partnership stake in WebMD is $500 million, or about $10 a share. In a press release Friday, Premier said its equity in WebMD would convert to about 5.2 million shares of Healtheron/WebMD, including 422,000 shares in an employee incentive pool. As reported Thursday, Healtheon and privately held WebMD Inc. confirmed they have signed a definitive contract to merge. The companies said the merger, which will be accounted for as a purchase, will use a fixed exchange ratio of 1.815 Healtheon shares for each WebMD share. As reported in Thursday's Wall Street Journal, the proposed deal is structured as a stock swap valued at about $5.5 billion, with both partners owning 50% of the new company. The merger is an attempt to create a dominant health-care Web site providing information and services to doctors and consumers. Premiere provides Internet communications products. (END) DOW JONES NEWS 05-21-99 02:58 PM

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