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VerticalNet, SierraCities merger pulled

Published on .

Horsham, Penn.--VerticalNet Inc.'s proposed acquisition of financial services provider SierraCities.com Inc. collapsed Thursday after VerticalNet's falling stock price wreaked havoc with the terms of the deal. The two companies said they would continue to work together and that a second try at an acquisition might be possible in the future. VerticalNet wanted SierraCities to help drive its new VerticalNet Credit division, which will offer financial services to its e-marketplaces and their customers.
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