RUMOR MILL
Lycos and Terra have thus far met all regulatory requirements to move forward with the merger.
Monday, September 25, 2000
DESPERATE FOR MORE MERGER NEWS? READ ON
Terra Offering Raises Mucho Euros; Lycos Merger Proceeding As Planned
Lycos, an online multi-brand network, announced Monday the completion of the Terra rights offering in which Terra raised $1.9 billion (2.2 billion Euros).
This was a planned step toward the completion of the Terra Lycos merger, which is expected to close in October.
Upon completion of the Terra merger with Lycos, Terra Lycos is expected to have approximately $3 billion in cash, making it one of the most well capitalized Internet companies.
Lycos also announced today that its shareholders would vote on the merger on Oct. 27.
Lycos and Terra have thus far met all regulatory requirements to move forward with the merger.
