CNet to buy Ziff-Davis
Posted on: 07/19/2000 03:17 PM

Damage from Tech-Report passes along this planned aquisition:
CNET said it will exchange 0.59 shares of CNET stock for each ZDNet share and .34 shares for each Ziff-Davis share. Based on CNET's closing stock price yesterday of $32.18, the transaction is valued at about $1.6 billion. CNET said it will issue a total of 50 million shares.
This is huge! With their combined 'Net and print presence, it really makes sense for them to get together in this merger-happy season.

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