Lycos slides in wake of Terra deal

Article Abstract:

Lycos Inc shares declined by $15.02 to $57.61 per share on May 17, 2000, before climbing back to $60.19 each in after-hours trading. The 20.7% decline has been attributed to investor confusion regarding the announcement of the Waltham, MA-based Internet search engine's $12.5- billion stock merger with Terra Networks of Madrid, Spain. Terra Lycos will have revenues of $500 million, operations in 37 nations, 50 million visitors to its sites and $3.5 billion in cash reserves.

On-Line Information Services, Financial analysis, Videotex & Teletext Svcs NEC, Internet services, Online information services, Lycos Inc.

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Sun Microsystems to buy Cobalt for $2B

Article Abstract:

Corporate computer manufacturer Sun Microsystems Inc has agreed to acquire Cobalt Networks, a server-appliance maker based in Mountain View, CA, for $2 billion in stock. The deal requires Sun to exchange 0.5 common shares for each share of Cobalt. The acquisition, which is expected to be completed by Dec 31, 2000, is part of Sun's strategy to rule the market for Internet hardware.

Electronic Computer Manufacturing, Asset sales & divestitures, Acquisitions & mergers, Computers & Auxiliary Equip, Cobalt Networks

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