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To: steve susko who wrote (2623)	10/27/2000 2:25:50 PM
From: Rutgers	Read Replies (2) \| Respond to of 19633

HOMS public.wsj.com Homestore (www.homestore.com ) will acquire move.com (www.move.com ) for about 26.3 million common shares for a transaction value of about $761 million, based on Homestore's closing price Thursday of $28.95. ... The acquisition of move.com is subject to conditions including the approval of Homestore shareholders, and regulators. Homestore said the transaction is under review by the antitrust division of the Department of Justice. The U.S. government is currently conducting an antitrust investigation of Homestore, which focuses on exclusive contracts with property-listing services and real-estate brokers. The government is trying to determine whether these exclusive contracts hurt home sellers or unfairly bar competitors from creating their own national online lists. Upon closing, Cendant will be entitled to name one director to Homestore's board, which currently has six members. Cendant also will be restricted in its ability to sell its Homestore shares. Also, Cendant agreed to a 10-year standstill agreement that, under most conditions, prohibits the company from acquiring additional Homestore common shares. Homestore and Cendant expect to complete the transaction within six months. and from Briefing.com 2:01PM Homestore.com (HOMS) 35 3/4 +6 13/16 (+23.5%): -- Update -- Market applauding company's acquisition of Cendant's (CD) Internet real estate portal, move.com, for approx. $761 mln in stock. The deal gives HOMS exclusive access to Cendant listings (Century 21, Coldwell Banker and ERA) for 40 yrs. will be interested in reading the full terms of this deal.