DoubleClick Ends Merger Deal

DoubleClick Inc. said it would not match a new offer for NetCreations Inc. and terminated its merger agreement with the electronic mail marketer. The announcement came after NetCreations said it had received a $7-a-share cash offer from a third party that was better than DoubleClick’s bid. DoubleClick’s stock swap deal valued NetCreations at $191 million when it was announced in October. DoubleClick said that NetCreations is now required to pay it $8.6 million in breakup fees plus expenses. DoubleClick shares fell 81 cents to close at $9.19, while NetCreations rose $2.28 to close at $6.66, both on Nasdaq.