View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
July 2, 1997updated 05 Sep 2016 12:35pm

INTERMEDIA-DIGEX MERGER ON COURSE DESPITE LAWSUITS

By CBR Staff Writer

Neither of the two parties in the recently announced acquisition of Digex Inc by Intermedia Communications Inc seemed unduly worried by the two shareholder lawsuits filed recently by Digex shareholders. These claimed there was not sufficient provisions in the merger to protect the interests of shareholders in the Washington, DC-based Internet Service Provider (ISP). The lawsuits seek damages and are intended to hold up the merger, but until at least a preliminary injunction is handed down, the merger will be unaffected. Digex says no application has been made yet for such an injunction, and the deal is still on schedule to close July 9. Intermedia, a Tamp, Florida-based provider of local and long-distance telecommunications services bid $150m cash for Digex in June.

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy Policy for more information about our services, how New Statesman Media Group may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications.
THANK YOU