X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Years of keeping government Internet reformers at bay has paid off for Network Solutions, Inc. Last month the company strutted its stuff on the market, and the dot-com wholesaler barely had to bat an eyelash to attract a serious suitor: data encryption services giant VeriSign Inc. The resulting $17 billion stock transaction is the largest deal ever involving two Internet companies, and would create the third-largest Internet company, behind America Online Inc. and Yahoo! Inc., according to The Daily Deal, an affiliate of The American Lawyer.

NSI and the Mountain View, Californiabased VeriSign originally valued the deal at $21 billion, but after announcing the agreement on March 6, VeriSign shares dropped 19 percent, which reduces the value of the deal. NSI’s stock, however, rose by 13 percent. Unlike the drawn-out ICANN deal, the merger negotiations were frenetic. NSI sidestepped one of its longtime outside corporate counsel, San Franciscobased Pillsbury, Madison & Sutro, the firm that took the company public in 1997, in favor of New York powerhouse Davis Polk & Wardwell. VeriSign turned to Palo Alto’s Fenwick & West, the firm that did the company’s IPO in 1998. Pillsbury’s managing partner, Marina Park, responded to the blow. “The NSI deal underscores our decision to try to get into New York in a big way,” she told The Recorder, a San Franciscobased American Lawyer Media affiliate, adding that the firm is eyeing merger candidates in New York.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Advance® Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]

 
Reprints & Licensing
Mentioned in a Law.com story?

License our industry-leading legal content to extend your thought leadership and build your brand.

 

ALM Legal Publication Newsletters

Sign Up Today and Never Miss Another Story.

As part of your digital membership, you can sign up for an unlimited number of a wide range of complimentary newsletters. Visit your My Account page to make your selections. Get the timely legal news and critical analysis you cannot afford to miss. Tailored just for you. In your inbox. Every day.

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.