Cnet, mySimon.com Acquisition Approved
CNET Inc., San Francisco, received anti-trust approval yesterday for its proposed $700 million acquisition of Santa Clara CA-based mySimon.com Inc. CNET received early termination of the waiting period under the Hart-Scott-Rodino act, according to wire service reports.After the companies combine, they will have 10 million unique users, 250 product categories, and more than 2,600 merchants and advertisers.
CNET will issue 11.3 million shares to complete the merger and will likely change its name to CNET Networks Inc., according to reports. The merger is expected to close at the end of the first quarter.
