AOL, Netscape close merger deal

America Online yesterday said it has completed its purchase of Netscape Communications.

AOL announced its intent to buy Netscape in November in a stock-for-stock transaction worth $US4.2 billion.

Yesterday at a special meeting, Netscape stockholders approved the stock-for-stock, pooling-of-interests transaction, in which Netscape stockholders will receive 0.90 shares of AOL common stock for each share of Netscape common stock, according to AOL.

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