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DoubleClick plan to buy NetCreations is dead

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New York--Two months after a deal was announced, DoubleClick Inc. has lost its bid to buy e-mail marketer NetCreations Inc. because of the precipitous drop in the online ad company's stock price, Friday's Wall Street Journal reported. NetCreations announced Thursday that it had accepted a competing bid from another company, which it would not name. Since the initial deal was announced, DoubleClick's shares have dropped from around $30 to around $10, significantly lowering the value of the deal from $166 million to $59 million. Under the terms of the agreement, NetCreations will have to pay a breakup fee of $6 million. The failure to acquire NetCreations is the latest setback to DoubleClick's strategy to build an integrated marketing services company.
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