New York, NY – (March 21, 2005) – LAWFUEL – The Law News Network – Debevoise & Plimpton LLP represented J.P. Morgan Securities Inc. as financial advisor to IAC/InterActiveCorp (Nasdaq: IACI) in its agreement to acquire Ask Jeeves, Inc. (Nasdaq: ASKJ) for approximately $1.85 billion. Under the terms of the agreement, IAC will issue 1.2668 shares of common stock for each share of Ask Jeeves common stock in a tax-free transaction, and intends to buy back at least 60% of the number of shares IAC will issue for the acquisition through its previously authorized share repurchase programs.
J.P. Morgan Securities Inc. is the primary nonbank subsidiary of J.P. Morgan Chase, engaging in investment banking, securities dealing, and brokerage, including investment banking services such as capital raising, mergers and acquisitions assistance, and corporate restructurings. IAC operates leading and diversified businesses in sectors being transformed by the internet. Ask Jeeves is the 9th largest global web property and delivers world-class information retrieval products through a diverse portfolio of Web sites, portals and downloadable applications. Debevoise & Plimpton LLP is a leading international law firm with offices in New York, London, Paris, Frankfurt, Washington, Moscow, Hong Kong and Shanghai.
The Debevoise team was led by partner Andrew L. Bab and included associate Christopher J. Andrew.
