Infogroup Reminds Stockholders to Vote FOR the CCMP Merger Today
21 Juin 2010 - 2:00PM
Business Wire
Infogroup (NASDAQ: IUSA) (“Infogroup” or the “Company”) today
reminded stockholders to vote FOR the adoption of the merger
agreement with affiliates of CCMP Capital Advisors, LLC (“CCMP”) at
the Company’s upcoming Special Meeting of Stockholders on Tuesday,
June 29, 2010. Infogroup stockholders of record as of the close of
business on May 27, 2010 are entitled to vote at the Special
Meeting.
Infogroup urges all stockholders to consider the following:
- The Infogroup Board of
Directors, acting upon the unanimous recommendation of the
independent M&A Committee, has unanimously concluded that
CCMP’s $8.00 per share cash offer is in the best interests of the
Company and its stockholders and provides stockholders with
certain, full, fair and immediate value.
- The $8.00 per share offer
represents a significant premium of approximately 22% to
Infogroup’s per share price on the last trading day prior to press
reports regarding Infogroup’s participation in a sale process. In
fact, prior to the press reports, the Company’s shares never closed
above $8.00 on any trading day in the two years leading up to the
CCMP transaction announcement .
- The Company conducted a
robust sale process, engaging more than 50 potential
strategic and financial buyers, to obtain the highest price
available. In addition, the Company conducted a go-shop process
following signing of the merger agreement to maximize value,
and actively solicited superior offers for 21 days following the
CCMP announcement. No additional proposals were received,
confirming that the CCMP transaction is the best available offer
for Infogroup.
- The Board believes that there is
risk of a material decline in Infogroup’s share price if
the Merger does not close, particularly in light of the
significant increase in the Company’s share price that occurred
subsequent to the press reports regarding Infogroup’s participation
in a sale process. The risk of a material decline in value is due
to a number of factors including the Company’s recent financial
underperformance, increased competition and significant execution
risks associated with the strategic plan.
For all of these reasons, the
Infogroup Board of Directors urges all Infogroup stockholders
tovote FOR the adoption of the merger agreement with CCMP
today.
The Infogroup Board of Directors urges stockholders to vote
FOR the adoption of the merger agreement. Infogroup
stockholders who have any questions or need assistance voting their
shares should contact Innisfree M&A Incorporated, which is
assisting the Company in this matter, toll-free at (877)
456-3510.
About Infogroup
infoGROUP, Inc. (NASDAQ: IUSA) is the leading provider of data
and interactive resources that enables targeted sales, effective
marketing and insightful research solutions. Our information powers
innovative tools and insight for businesses to efficiently reach
current and future customers through multiple channels, including
the world’s most dominant and powerful Internet search engines and
GPS navigation systems. Infogroup’s headquarters are located at
5711 South 86th Circle, Omaha, NE 68127. For more information, call
(402) 593-4500 or visit www.Infogroup.com.
Additional Information
In connection with the Merger, infoGROUP has filed a definitive
proxy statement and other relevant documents concerning the
transaction with the SEC. STOCKHOLDERS OF infoGROUP ARE URGED TO
READ THE PROXY STATEMENT AND ANY OTHER RELEVANT DOCUMENTS FILED
WITH THE SEC BECAUSE THEY CONTAIN IMPORTANT INFORMATION. Investors
and security holders can obtain free copies of the definitive proxy
statement and other documents in the SEC’s public reference room
located at 100 F Street, N.E., Room 1580, Washington, D.C. 20549.
Please call the SEC at 1 800 SEC 0330 for further information on
the public reference room. Copies of the definitive proxy statement
and other documents infoGROUP files with the SEC may also be
obtained by mail, upon payment of the SEC’s customary fees, by
writing to the SEC’s principal office at 100 F Street, NE,
Washington D.C. 20549. Our SEC filings, including the definitive
proxy statement, are also available to the public, free of charge,
at the SEC’s website at http://www.sec.gov. You also may obtain
free copies of the documents infoGROUP files with the SEC by going
to the “Financial Information” subsection of our “Investors
Relations” section of our website at
http://ir.infogroup.com/sec.cfm. Our website address is provided as
an inactive textual reference only. Information regarding the
identity of the persons who may, under SEC rules, be deemed to be
participants in the solicitation of stockholders of infoGROUP in
connection with the transaction, and their interests in the
solicitation, is set forth in the definitive proxy statement that
was filed by infoGROUP with the SEC on May 28, 2010.
Forward-Looking Statements
This document includes forward looking statements based on
estimates and assumptions. Forward-looking statements include
statements containing words such as “believes,” “estimates,”
“anticipates,” “continues,” “contemplates,” “expects,” “may,”
“will,” “could,” “should” or “would” or other similar words or
phrases. Statements also include statements pertaining to: the
future performance of Infogroup’s stock price, the future of the
operating environment in the Company’s industry, the implications
of current financial performance on future results and the ability
of the Company to meet its future forecasts. These statements,
which are based on information currently available to us, are not
guarantees of future performance and may involve risks and
uncertainties that could cause our actual growth, results of
operations, performance and business prospects, and opportunities
to materially differ from those expressed in, or implied by, these
statements. These forward-looking statements speak only as of the
date on which the statements were made and we expressly disclaim
any obligation to release publicly any updates or revisions to any
forward-looking statement included in this document or elsewhere.
These statements are subject to risks, uncertainties, and other
factors, including, among others:
- the occurrence of any event,
change or other circumstances that could give rise to the
termination of the Merger Agreement;
- the inability to complete the
Merger due to the failure to obtain stockholder approval or the
failure to satisfy other conditions to consummation of the
Merger;
- the failure of CCMP to obtain
the necessary debt or equity financing;
- the failure of the Merger to
close for any other reason;
- that the proposed transaction
disrupts current plans and operations and the potential
difficulties in employee retention as a result of the Merger;
- the effect of the announcement
of the Merger on our customer relationships, operating results and
business generally;
- the ability to recognize the
benefits of the Merger;
- the amount of the costs, fees,
expenses and charges related to the Merger;
and other risks detailed in our current filings with the SEC,
including our most recent filings on Forms 10 Q and 10 K. Many of
the factors that will determine our future results are beyond our
ability to control or predict. In light of the significant
uncertainties inherent in the forward-looking statements contained
herein, readers should not place undue reliance on forward-looking
statements, which reflect management’s views only as of the date
hereof. We cannot guarantee any future results, levels of activity,
performance or achievements. The statements made in this document
represent our views as of the date hereof, and it should not be
assumed that the statements made herein remain accurate as of any
future date. Moreover, we assume no obligation to update
forward-looking statements or update the reasons that actual
results could differ materially from those anticipated in
forward-looking statements, except as required by law.
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