Business Services Industry
Shares of Web Portal Lycos, Spanish Phone Firm Fall on Worries about Takeover.(Knight Ridder/Tribune Business News)
Knight Ridder/Tribune Business News, May, 2000 by Howe, Peter J.
May 18--Initial investor giddiness over the planned $12.5 billion takeover of Waltham-based Web portal Lycos Inc. by Spain's leading phone company gave way to a punishing sell-off on Wall Street yesterday, with Lycos shares plunging over 20 percent.
A day after the stock-swap deal was announced, Wall Street betrayed concerns about the risks of owning a foreign stock and fears that shares of acquirer Terra S.A. may be wildly overvalued. Lycos sunk by just over $15 a share to $57.609375 in Nasdaq trading. Some 32.8 million Lycos shares changed hands, making it the second most heavily traded US stock yesterday.
But Andover-based CMGI Inc., an Internet venture capital company that has seen the $3.8 million it invested in Lycos beginning in 1995 swell on...
Most Recent Business Articles
- Multiple criteria evaluation and optimization of transportation systems
- Multi-criteria analysis procedure for sustainable mobility evaluation in urban areas
- A two-leveled multi-objective symbiotic evolutionary algorithm for the hub and spoke location problem
- Multi-criteria analysis for evaluating the impacts of intelligent speed adaptation
- The development of Taiwan arterial traffic-adaptive signal control system and its field test: a Taiwan experience
Most Recent Business Publications
Most Popular Business Articles
- FAS 109: a primer for non-accountants - Financial Accounting Standards Board's "Statement 109: Accounting for Income Taxes"
- LIFO vs. FIFO: a return to the basics
- Too Young to Rent a Car? - 25-years-old the minimum age for car renting - Brief Article
- Design a commission plan that drives sales - Sales Commissions
- Using object-oriented analysis and design over traditional structured analysis and design
Presented by American Express