Auctionbytes-NewsFlash, Number 602 - September 05, 2003 - ISSN 1539-5065
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eBay Buys FairMarket Assets for $4.5 Million
By Ina Steiner
AuctionBytes.com
FairMarket Inc. stockholders approved of the sale of substantially all of its operating assets to eBay Inc. for $4.5 million in cash pursuant to the terms of an asset purchase agreement entered into between FairMarket and eBay on June 20, 2003. The acquisition, which is subject to the satisfaction of customary closing conditions, is expected to close shortly. FairMarket's stockholders also approved a proposal to change its name to "Dynabazaar, Inc.," which will be made effective as of the closing of the asset sale, and elected each of Shikhar Ghosh and Lloyd I. Miller, III as Class III directors to its board of directors.
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Background on FairMarket:
http://www.auctionbytes.com/cab/abn/y03/m05/i02/s02
News story from Thursday's Internet.com:
http://siliconvalley.internet.com/news/article.php/3072621
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