Stock Watch: Lycos Soars on Merger Speculation

Lycos, Inc. (Nasdaq: LCOS) continued to gain in morning trading Tuesday, trading up 10 7/8 at 72 1/2 after rising 7 1/2 Monday on speculation that the company is in talks to be acquired by Spain’s Terra Networks. Terra Networks is partly owned by telephone company Telefonica.

Reports said an acquisition valuing Lycos at $10 billion or more could be announced as early as Tuesday. The deal would give Terra Networks a foothold in the U.S. Internet market.

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