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Ariba Completes Merger with FreeMarkets and Effects Reverse Stock Split
Thursday July 1, 9:10 am ET
SUNNYVALE, Calif.--(BUSINESS WIRE)--July 1, 2004--Ariba®, Inc. (Nasdaq: ARBA), the leading Spend Management (SM) solutions provider, today announced that it has completed its merger with FreeMarkets, Inc. and effected a one-for-six reverse split of its common stock. As announced earlier this week, the merger was approved by the stockholders of each company on June 28, 2004, at which time Ariba's stockholders and its board of directors approved the reverse stock split. Ariba's common stock will temporarily trade under the symbol "ARBAD" to designate that it is trading on a post reverse split basis.
Last Trade: 11.06 Dollar -0.88 (-7.37%)
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