Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Thread Formerly Known as No Rest For The Wicked -- Ignore unavailable to you. Want to Upgrade?

To: Tim Luke who wrote (8327)	1/18/1999 11:25:00 PM
From: Jack Colton	Respond to of 90042

Only his advisors know for sure. jc

To: Tim Luke who wrote (8327)	1/18/1999 11:26:00 PM
From: Glenn	Read Replies (4) \| Respond to of 90042

I feel confident he won't cut rates. The major question is will he up it a 1/4? Smiles, I know he is worried about the inflated prices. Comments anyone? Glenn

To: Tim Luke who wrote (8327)	1/18/1999 11:28:00 PM
From: puborectalis	Read Replies (1) \| Respond to of 90042

Posted at 7:47 p.m. PST Monday, January 18, 1999 @Home-Excite deal announcement expected Tuesday New York Times REDWOOD CITY, Calif. -- @Home Corp., a high-speed Internet service aimed at cable television subscribers, intends to announce on Tuesday that it will acquire Excite Inc., one of the leading Internet destinations, in a stock transaction valued about $6 billion, according to a person involved in the deal. If completed, the deal would be one of the biggest in a flurry of recent Internet acquisitions, exceeding even the $4.2 billion purchase of Netscape by America Online announced two months ago. The boards of both companies met on Monday night to work on last-minute issues. Barring last-minute snags, an announcement is planned in New York before the opening of the stock market. Any deal would have to be approved by the shareholders of both companies. Both companies refused to comment on reports about their negotiations. Not only would the deal strengthen's At Home's position in the competition for destination sites, known as portals, that is increasingly defining the commercial Internet, but it would sharpen the position of A.T.&T., which is now concluding its acquisition of Tele-Communications Inc., At Home's major shareholder. Excite's shareholders are expected to own about 30 percent of the combined company, which would be named @Home. George Bell, Excite's chief executive, would take an executive position in the merged company and join its board. The value of @Home's stock outstanding is about $10.4 billion, while Excite's shares are worth a total of about $3.5 billion. Specific details of the deal for shareholders could not be learned Monday night. Excite's stock closed at $67.50 on Friday, while @Home closed at $102. Stock markets in the United States were closed on Monday for Martin Luther King Jr. Day. @Home now has more 330,000 customers for its service, which provides high-speed Internet data via cable networks. The deal would give it access both to Excite's more than 20 million registered users and to the company's content-development capabilities. Both @Home and Excite! are based in Redwood City. The offices of Tom Jermolak, @Home's chief executive, and Bell are separated by a parking lot. The urgency to strike a merger agreement was heightened in recent weeks because there were several other companies interested in bidding for Excite!, including Yahoo!, a competing large portal and search engine, and the Microsoft Corporation, according to people familiar with the negotiations. The prospective transaction, which is one in a series of moves by Internet players and telecommunications companies to position themselves for the expected next wave of Internet development based on high speed cable and phone links. The most prominent was the recent acquisition of Netscape Communications Corporation by America Online Inc. On Monday, Snap, an Internet provider partly owned by NBC, announced a high speed Internet service with its partners Bell Atlantic and SBC Communications. For AT&T the At Home-Excite deal could ultimately help shape its strength in a wide range of Internet services, including dialup access via its AT&T Worldnet service, which the TCI and @Home offering that will permit it to offer both high speed Internet as well as local telephone services. and a new Excite brand which could serve as both a portal and an important content brand to rival other major Internet players such as Microsoft, Disney and America Online. HEY GUYS......WHAT"S YOUR TAKE ON THIS?...?LYCOS,NEXT?