Shareholders from both companies gave their approval to the merger, which has a total market capitalization of $4 billion. The new EarthLink said the former president and CEO of EarthLink, Gary Betty, has been tapped as the company's CEO, while former MindSpring Chairman and CEO Charles Brewer will serve as EarthLink's chairman.
In other postclose news (earnings estimates from
First Call/Thomson Financial
; earnings reported on a diluted basis unless otherwise specified):
Mergers, acquisitions and joint ventures
Federal Trade Commission
filed proceedings in a federal district court to block the proposed merger of
. The first hearing is scheduled for March 10.
said it has made a $27 million offer to purchase
said it would cut its workforce by 20%. The reduction would affect 100 to 130 employees, including 35 from its
Special Technologies Group
, which is set to be spun off.
For a look into this evening's after-hours trading action, please check out
The Night Watch.