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Contributed by claudia on Friday February 11, @04:43AM
Internet investment company CMGI Inc. said Thursday it will buy Web auction site uBid.com for about $407 million in stock. Under the deal, CMGI will issue 0.2628 share for each uBid.com share. That's equal to about $31.67 based on Wednesday's prices, a 19 percent premium over uBid's close of about $26.69. CMGI closed Wednesday at 120-1/2.





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