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From the Blogosphere
Pre-Open Movers 5/15: CNET (CNET) Up On CBS Buyout, Sina (SINA) Up on Results/Outlook; Salary.com (SLRY) Sinks On Results/Outlook
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<>StreetInsider.com Pre-Open Movers:
CNET Networks, Inc. (Nasdaq: CNET) 42% HIGHER; CBS Corporation (NYSE: CBS.A) (NYSE: CBS) has entered into an agreement to acquire CNET Networks. Under the terms of the agreement, CBS will make a cash tender offer for all issued and outstanding shares of CNET Networks for $11.50 per share, representing an equity value of approximately $1.8 billion. CNET closed at $7.95 yesterday.
Salary.com (Nasdaq: SLRY) 27% LOWER; reports a Q4 loss of $0.09, 1 cent lower than the analyst estimate of ($0.08). Revenues for the quarter were $9.3 million, versus the consensus...
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Notable Mergers and Acquisitions of the Day 5/15 (YHOO, CBS/CNET, GE)
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StreetInsider.com Notable Mergers and Acquisitions of the Day:<>Activist investor Carl Icahn said he will move forward with plans to elect a slate of directors to Yahoo! (Nasdaq: YHOO) Board of Directors. His full slate of Board members includes: Lucian Bebchuk, Frank J. Biondi, Jr., John H. Chapple, Mark Cuban, Adam Dell, Carl C. Icahn, Keith A. Meister, Edward H. Meyer, Brian S. Posner and Robert K. Shaye.
<>CBS Corporation (NYSE: CBS.A) (NYSE: CBS) has entered into an agreement to acquire CNET Networks, Inc. (Nasdaq: CNET). Under the terms of the agreement, CBS will make a cash tender offer...
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Unusual 11 Mid-Day Movers 5/15: CNET, RCH, NCOC, AFN Higher; SLRY, YTEC, ASYS, SNS Lower
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CNET Networks, Inc. (Nasdaq: CNET) 43.3% HIGHER; CBS Corporation (NYSE: CBS.A) (NYSE: CBS) has entered into an agreement to acquire CNET Networks. Under the terms of the agreement, CBS will make a cash tender offer for all issued and outstanding shares of CNET Networks for $11.50 per share, representing an equity value of approximately $1.8 billion. CNET closed at $7.95 yesterday. Salary.com (Nasdaq: SLRY) 28.6% LOWER; reports a Q4 loss of $0.09, 1 cent lower than the analyst estimate of ($0.08). Revenues for the quarter were $9.3 million, versus the consensus of $9.91 million. Sees Q1 revs...
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