Business.com may come back on the Market, again
2008 May 2
According to a report in Fortune Magazine, Business.com may be back on the market once again.
As you may know, last year Business.com was sold to Donnelly, a publically traded yellow pages company for $345 million in cash. At that time, Donnelly was worth more than $3 billion. Today, the whole company’s market cap is worth less than what it paid for Business.com – $338 million at Thursday’s close of $4.91.
Prior to the sale to Donnelly, Business.com was purchased in 1999 for an record $7.5 million
When business.com was up for sale last year, several groups including Dow Jones and the New York Times to a serious look.
If it hits the market again, it will be interesting to see where it lands up and at what price
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…and aren’t the last sellers of Business.com thrilled (and relieved) they took all cash for the business, instead of cash + stock.
A good lesson for us all.