AOL, Netscape close merger deal
- — 18 March, 1999 21:49
America Online today said it has completed its purchase of Netscape Communications.
AOL announced its intent to buy Netscape in November in a stock-for-stock transaction worth $US4.2 billion.
Today at a special meeting, Netscape stockholders approved the stock-for-stock, pooling-of-interests transaction, in which Netscape stockholders will receive 0.90 shares of AOL common stock for each share of Netscape common stock, according to a statement from AOL.