***DoubleClick, @plan Renegotiate

Share this article:
Internet ad services firm DoubleClick Inc., New York, and market research firm @plan.inc, Stamford, CT, announced late today that they have revised the terms of their acquisition agreement originally announced Sept. 25.


Under the terms of the amended agreement, @plan shareholders will receive $8 in value for each share of @plan common stock, according to a joint statement.


"@plan shareholders will receive consideration, at DoubleClick's election, consisting of either a combination of cash, in an amount between $1.60 and $4, with the remainder of the $8 in value in DoubleClick common stock (valued at its average closing price for the 10 trading days ending one business day prior to the closing date), or all cash," according to the statement.


The renegotiation represents an effort by @plan to get back the value lost from the original deal since DoubleClick's stock has dropped from in the 30s in September to around 15 last week, according to Dana Serman, research analyst at Lazard Freres Co. LLC, New York.


"This is not unprecedented in M&A deals. They're not going to come as cheaply as DoubleClick's current share price would imply," he said. "It's a renegotiation that is justified based on the decline in DoubleClick's stock since the deal was first announced. It shouldn't be a major surprise."
Share this article:
You must be a registered member of Direct Marketing News to post a comment.
close

Next Article in Digital Marketing

Follow us on Twitter @dmnews

Latest Jobs:

Featured Listings

More in Digital Marketing

IAB Tech Lab to Set Global Digital Marketing Standards

IAB Tech Lab to Set Global Digital Marketing ...

In looking to solve complex tech issues, the association opens up full membership to agencies and solutions providers.

Integration Meets Innovation in Planters' Digital Campaign

Integration Meets Innovation in Planters' Digital Campaign

The snacks brand found a healthy way to navigate today's world of digital marketing saturation.

USA Today Decides to Play Games for Real

USA Today Decides to Play Games for Real

It partners with game-maker Arkadium to add 60 new digital games to its site, offering advertisers more segmented breakdowns of players.