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Strategies & Market Trends : Rande Is . . . HOME -- Ignore unavailable to you. Want to Upgrade?

To: BANCHEE who wrote (7309)	5/21/1999 12:12:00 AM
From: Robert V. Cavaleri	Respond to of 57584

Ah, here is the rest of the article: Premiere Tech stock jumps on stake in WebMD Thursday May 20, 8:44 pm Eastern Time NEW YORK, May 20 (Reuters) - Premiere Technologies Inc. (Nasdaq:PTEK - news) shares jumped as much as 16 percent Thursday on speculation about the value of its holdings in WebMD, which has agreed to merge with Healtheon Corp. (Nasdaq:HLTH - news) Premiere stock gained as much as $20.87, up more than $4 before falling back to close at $17.94, up $1.62 on the day in Nasdaq stock market trading. It was the second most active issue on the Nasdaq. Bob Zwerneman, head of investor relations for Premiere, confirmed his company holds equity in WebMD, but would not comment on the exact value, citing an apparent inconsistency with the exact value of that stake. SEC documents filed in late January showed Premiere as owning 2.1 million shares, or 12.1 percent, of the capital stock of WebMD, an online health information site. But as a result of Microsoft's tender offer to WebMD holders announced as part of Healtheon's takeover deal, Premiere's ownership could run as high as 2.9 million, he said. But he said the exact amount was as yet unknown. ''The question remains. Whatever happened to the tender that Microsoft had (coming) to all capital shareholders?'' Zwerneman said. ''And as part of that tender process there had been a dividend declared that would have added something like another 800,000 shares to Premiere.'' The exact value will remain unclear until Microsoft and WebMD disclose the structure of their side deal, which preceded Healtheon's pact to acquire WebMD, which analysts estimated was worth $5.5 billion. Neither Healtheon or WebMD gave an exact value for the deal, but the swap will give the shareholders of each company 50 percent ownership of the combined entity. Healtheon was also one of the biggest leaders in Nasdaq trade, with shares jumping more than $20, or 25 percent, to close at $100.62.