Catalina Marketing to be acquired by ValueAct Capital

Share this content:

Catalina Marketing Corp. agreed yesterday to be acquired by its largest shareholder, ValueAct Capital, in a deal that values the marketing services company at almost $1.6 billion.

St. Petersburg, FL-based Catalina Marketing Corp. offers behavior-based promotional messaging, loyalty programs and direct-to-patient information.

ValueAct Capital will acquire by merger 100 percent of the outstanding equity interests of the company that it does not already own for $32.10 per share in cash. Jeffrey W. Ubben, who has served as a director of Catalina since May 2006, is the co-founder, managing partner and principal owner of ValueAct Capital, an investment partnership with approximately $5 billion in assets under management.

Under the terms of the agreement, Catalina stockholders will receive $32.10 in cash for each outstanding share of stock. ValueAct previously offered $32 a share for Catalina.

Catalina may solicit or entertain alternative proposals from third parties during the 45 days after the announcement (made March 8). Catalina said it would not disclose developments with respect to this solicitation process unless and until its board of directors has made a decision to enter into an alternative transaction.

The transaction is expected to close in the next several months and is subject to approval by the company's stockholders, other than ValueAct Capital, regulatory approvals and other customary closing conditions. ValueAct Capital has received customary debt financing commitments from third-party financing sources.

Catalina posted revenue of $123.1 million in the latest quarter, up almost 27 percent from the year-ago period.

Loading links....
close

Next Article in Data/Analytics

Sign up to our newsletters

Company of the Week

We recently were named B2B Magazine's Direct Marketing Agency of the Year, and with good reason: We make real, measureable, positive change happen for our clients. A full-service agency founded in 1974, Bader Rutter expertly helps you get the right message to the right audience at the right time through the right channels. As we engage our clients' audiences along their journey, direct marketing (email, direct mail, phone, SMS) and behavioral marketing (SEM, retargeting, contextual) channels deliver information relevant to the needs of each stage. We are experts at implementing and leveraging marketing technologies such as CRM and marketing automation in order to synchronize sales and marketing communications. Our team of architects and activators plan, execute, measure and adjust in real time to ensure the strategy is working as needed and change things if it's not.

Find out more here »

DMN's Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here