What Happened on November 24th

AOL Buys Netscape

America Online announced the acquisition of Netscape Communications in a stock-for-stock transaction worth $4.2 billion. The deal between Netscape and AOL was also a pooling-of-interests transaction and gave Netscape shareholders 0.45 shares of AOL common stock for each share they held. The transaction closed in the spring of 1999, subject to regulatory and shareholder approval.