High-speed Internet provider At Home Corp. is buying Excite Inc. , one of the leading destinations on the World Wide Web, for about $6.7 billion in stock in one of the largest Internet company deals. The deal announced today would surpass America Online Inc. ’ s $4.2 billion acquisition of Netscape Communications Corp. last year. Based on closing stock prices Friday, Excite is worth about $ 3.4 billion, which would mean that At Home would be paying a huge premium. The deal could eventually give telecommunications giant AT&T Corp. control of one of the highly sought after portals that serve as entry points onto the Internet.
At Home is owned by Tele-Communications Inc. , Cox Communications and several other investors. TCI is in the process of merging with AT&T Corp. in a $39 billion deal that is expected to be completed by spring. AT&T Corp. chief executive Michael Armstrong has stated he wants to use At Home as a conduit tor delivering a wide range of co
A. TCI
B. AT&T
C. AOL
D. Yahoo!
High-speed Internet provider At Home Corp. is buying Excite Inc. , one of the leading destinations on the World Wide Web, for about $6.7 billion in stock in one of the largest Internet company deals. The deal announced today would surpass America Online Inc. ’ s $4.2 billion acquisition of Netscape Communications Corp. last year. Based on closing stock prices Friday, Excite is worth about $ 3.4 billion, which would mean that At Home would be paying a huge premium. The deal could eventually give telecommunications giant AT&T Corp. control of one of the highly sought after portals that serve as entry points onto the Internet.
At Home is owned by Tele-Communications Inc. , Cox Communications and several other investors. TCI is in the process of merging with AT&T Corp. in a $39 billion deal that is expected to be completed by spring. AT&T Corp. chief executive Michael Armstrong has stated he wants to use At Home as a conduit tor delivering a wide range of co
A. Because Tom Jermoluk wants to control his strongest competitor.
B. Because it wants to expand its business through Excite's present resources.
C. Because both companies are based in Redwood City, California.
D. Because it has lost $9.7 million in the last three months.
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