Liberty Broadband to Acquire Wink6/24/2002 3:24 AM Eastern
Wink Communications Inc. said early Monday that it has signed a deal with
Liberty Broadband Interactive Television Inc. to be acquired through a
definitive merger agreement.
As part of the deal, Wink shareholders will receive $3 in cash for each of
their Wink shares.
The deal is subject to regulatory and Wink-shareholder approval.
Although Wink's share price was up dramatically Monday following the announcement, it closed
at $2.79 yesterday, up $1.09.
The stock's 52-week high last summer was $3.75 per share, but it has been
trading significantly lower in recent months.
The Liberty acquisition is expected to close in the third quarter.
LBIT was formed earlier this year. It earlier announced plans to acquire
Wink offers enhanced-television services for television
programmers and advertisers.