coolosxapps
08-11-2005, 01:19 PM
http://biz.yahoo.com/ap/050811/valueclick_fastclick.html?.v=1
or have a read below....
WESTLAKE VILLAGE, Calif. (AP) -- Online advertising services company ValueClick Inc. said Thursday it agreed to acquire online marketing company Fastclick Inc. in a stock swap transaction valued at about $214 million.
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Under the agreement, Fastclick shareholders will receive 0.7928 ValueClick shares for each common share they own. ValueClick will issue about 15.6 million shares to complete the transaction, which values Fastclick at $10.11 per share -- a 14 percent premium to the stock's Wednesday closing price.
Santa Barbara-based Fastclick will operate as a unit of ValueClick after the deal is completed.
ValueClick said it expects to save about $4 million annually in operating costs after the merger, which is slated to close in the fourth quarter. The company said the deal will add to earnings before interest, taxes, depreciation and amortization.
The merger will give ValueClick access to Fastclick's advertising network of more than 9,000 third-party Web sites reaching over 112 million U.S. Internet users.
ValueClick shares fell 35 cents, or 2.8 percent, to $12.40, but FastClick shares opened up 85 cents, or nearly 10 percent, at $9.70 on the Nasdaq.
or have a read below....
WESTLAKE VILLAGE, Calif. (AP) -- Online advertising services company ValueClick Inc. said Thursday it agreed to acquire online marketing company Fastclick Inc. in a stock swap transaction valued at about $214 million.
ADVERTISEMENT
Under the agreement, Fastclick shareholders will receive 0.7928 ValueClick shares for each common share they own. ValueClick will issue about 15.6 million shares to complete the transaction, which values Fastclick at $10.11 per share -- a 14 percent premium to the stock's Wednesday closing price.
Santa Barbara-based Fastclick will operate as a unit of ValueClick after the deal is completed.
ValueClick said it expects to save about $4 million annually in operating costs after the merger, which is slated to close in the fourth quarter. The company said the deal will add to earnings before interest, taxes, depreciation and amortization.
The merger will give ValueClick access to Fastclick's advertising network of more than 9,000 third-party Web sites reaching over 112 million U.S. Internet users.
ValueClick shares fell 35 cents, or 2.8 percent, to $12.40, but FastClick shares opened up 85 cents, or nearly 10 percent, at $9.70 on the Nasdaq.