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Author: 5thbeatle Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 240  
Subject: Re: What about the Akami Buyout? Date: 4/10/2000 12:14 PM
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cashiers-

I believe you can request a copy of the merger prospectus (dated March 21, 2000) from InterVu's Investor Relations:

Anjeanette Rettig
Director of IR
(858) 623-8400 x134

They call it a "proxy statement/prospectus" and it is 129 pages long, not including the appendices. Hope that helps!

As far as competition goes, they don't specifically state who their competition is (they do list some customers), but this is what I picked up on (pg. 77 under Description of Akamai):

"Competition
The market for Internet content delivery services is new, rapidly evolving and intensely competitive. Akamai expects competition to increase both from existing competitors and new market entrants for various components of its service. Akamai competes primarily on the basis of:

>performance of service, including speed of delivery, quality, reliability, peak crowd protection, and global content delivery capabilities;

>ease of implementation and use of service;

>types of content and applications delivered;

>partnerships to provide complete customer solutions; and

>price.

Akamai competes primarily with companies offering products and services that address Internet performance problems, including companies that provide Internet content delivery services, streaming content delivery services and equipment-based solutions to Internet performance problems, such as load balancers and server switches."

There are a couple more paragraphs that speculate how competition might affect Akamai, but it's standard stuff (product bundling, price competition, etc.) - and I don't have a scanner!

You can probably find more information about specific competitors from the AKAM message board - I don't know enough about them myself, and this is the first merger prospectus I've delved into, so my interpretation is suspect. The entire tone of the document is cautious, as I'm sure they have to be or risk lawsuit, and that has rubbed off on me.

What I would like feedback on, if there are any Foolish lurkers still watching the board, is the stock conversion ratio. In my ignorance, I look at $$$ in ITVU and when I do the conversion, I end up with about the same amount of $$$ afterwards. To me, this doesn't sound like much of a premium, and with the recent volatility, it's possible the conversion could result in less $$$! Meanwhile, hefty bonuses (millions) are paid to key players in arranging the merger. My thought is, hey, what about the shareholders?

My perspective is limited, so any feedback from investors more experienced in mergers would be appreciated.

Thanks!
5thbeatle
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