Update: AppNet Stumbles After Merger Announcement Is Rescinded
Updated from 3:09 p.m. EDT
Shares of AppNet (APNT) tumbled Monday after the company, while acknowledging it was discussing a possible agreement with Commerce One (CMRC), backtracked from an earlier announcement of a definitive merger agreement.
AppNet, a Bethesda, Md.-based Internet commerce consulting company, said the announcement of a merger was released inadvertently. Both AppNet and Commerce One, a Pleasanton, Calif.-based maker of business-to-business Internet software, confirmed the merger talks, but said no agreement had been reached.
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