Intuit plans to dispose of its 9.94 per cent stake in Excite, which agreed last month to be acquired by @Home.com for $6.7 billion (see VNU Newswire, 19 January, 1999).
According to a filing registered on Thursday with the US Securities and Exchange Commission, the PC software maker sold 450,000 of its 5.8 million Excite shares for an average $94.13 between Monday and Wednesday of this week, after buying them for an average $6.75 on 25 June, 1997.
As a result, Intuit has so far made about $42.4 million on the deal.
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