TOKYO (06/15/2000) - NTT Communications Corp. said Thursday it has extended its takeover offer for Verio Inc. for two weeks. The company also said it was informed the same day by the U.S. Federal Trade Commission (FTC) that the antitrust waiting period for the deal had expired.
The Japanese company's offer to acquire all outstanding shares in Verio that it does not already own will now expire at midnight Eastern time on June 30, it said in a statement.
As of Thursday, approximately 52.21 million shares, or around 70.3 percent, of common stock not already owned by NTT Communications, and approximately 4.10 million shares of Verio preferred stock had been tendered, the company said.
NTT Communications, a major long-distance and international telephone and data network provider in Japan, announced in early May its plan to acquire Verio in a deal that valued the U.S. Web hosting and Internet services company at $5.5 billion. [See "NTT Communications to Acquire Verio in $5.5B Deal," May 8.]NTT Communications, in Tokyo, can be found online at http://www.ntt-c.com/.
Verio Inc., in Englewood, Colorado, is at http://www.verio.com/.