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Technology Stocks : EARTHLINK (ELNK) -- Ignore unavailable to you. Want to Upgrade?

To: Sarkie who wrote (2046)	6/19/2000 10:31:00 AM
From: Sarkie	Respond to of 2553

Earthlink-OneMain.com Deal Has $9 Million Breakup Fee ================================================================ WASHINGTON -(Dow Jones)- Earthlink Inc.'s (ELNK) acquisition of OneMain.com Inc. (ONEM) has a walkaway date of Oct. 30, according to a Form 8-K filed with the Securities and Exchange Commission. While the merger is pending, OneMain shouldn't solicit or enter into a superior offer from an outside bidder. If terms of the deal are violated, OneMain will be responsible for the $9 million breakup fee attached to the deal. As reported earlier this month, Earthlink is buying OneMain for $305 million in cash and stock. Earthlink will pay $150 million and issue 8.8 million shares of its stock in the deal. The transaction values OneMain shares at $12.13 each. The deal will be considered a reorganization for tax purposes, according to the late Friday filing. It will require approval from shareholders, as well as meet the antitrust provisions under the Hart-Scott-Rodino Act. Earthlink, based in Pasadena, Calif., is an Internet service provider. Earthlink shares recently traded at 15 15/16. OneMain, also an Internet service provider, is based in Reston, Va. OneMain shares recently traded at 11 1/16. -By Kerrylee Nadeau, Dow Jones Newswires/Federal Filings Business News; 202-628-7692 (This story was originally published by Dow Jones Newswires) Copyright (c) 2000 Dow Jones & Company, Inc. All Rights Reserved ================================================================