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Article: FASHIONMALL'S TWO SUITORS.(Narax; Genesisintermedia.com)(Brief Article)
- Article from:
- WWD
- Article date:
- January 4, 2001
- Author:
CopyrightCOPYRIGHT 2001 Conde Nast Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK -- The decision of Sitestar Corp., an Encino, Calif.-based Internet holding company, to withdraw its previous bid offer for online retailer Fashionmall.com on Tuesday, has left the bidding war in the hands of Fashionmall's two other suitors, Narax and GenesisIntermedia.
It has also raised questions about the general flurry of interest in Fashionmall.com.
Sitestar's original bid, dating back to October, was $3 per share for Fashionmall.com, an offer received less than enthusiastically at the time by the dot-com's chief executive officer, Ben Narasin. In a statement, Sitestar president and chief executive officer Clinton J. Sallee also ...