GLOBAL SPORTS TO ACQUIRE FOGDOG FOR ABOUT $38 MILLION; THE DEAL BRINGS 14TH SPORTS GEAR COMPANY INTO GLOBAL SPORT'S FOLD.

Daily News Record, October, 2000 by PALMIERI, JEAN; SECKLER, VALERIE; YOUNG, VICKI M.

A couple of sports-driven Web players are teaming up. E-commerce enabler Global Sports has entered into a definitive agreement to acquire e-tailer Fogdog Inc. for roughly $38 million.

Terms of the merger deal call for Global Sports to issue about 4.95 million shares of its common stock in exchange for all outstanding shares of Fogdog, which would amount to about 15.6 percent of Global Sport's outstanding common shares following consummation of the transaction. That means Fogdog's shareholders would receive 0.135 of a share of Global Sports common for each share of Fogdog they own.

The arrangement would bring Global Sports its 14th e-commerce activewear and sports gear business -- along with the $42.5 million that was on Fogdog's balance sheet on...