InfoUSA Extends Tender Offer as Digital Impact Explores Other Options

Share this article:
While infoUSA extended its tender offer for the outstanding shares of Digital Impact's common stock, the e-mail service provider entered discussions with other possible suitors last week.


InfoUSA, Omaha, NE, announced the extension of its offer of $2 per share March 24 and set a new deadline of 5 p.m. April 13, unless further extended. The first offer was set to expire March 23. As of the close of business March 23, a total of 2,642,314 shares of Digital Impact stock had been tendered, according to infoUSA.


Digital Impact, San Mateo, CA, said it received offers and entered into talks with other firms about possible mergers in a March 22 filing with the Securities and Exchange Commission.


The filing said in part, "The Company has received initial indications of interest from third parties [other than infoUSA] with respect to a possible business combination transaction with the Company. The Company has responded to these indications of interest and, consistent with the Company's fiduciary duties, has conducted meetings with interested third parties. The Company has entered into preliminary negotiations with respect to a possible transaction."


However, the company acknowledged that no agreement had been reached, and its board of directors did not reveal the identities of the suitors.


A March 7 SEC filing revealed that, as of Feb. 28, there were 37,151,732 shares of Digital Impact stock issued and outstanding. The stock was trading at $2.18 at the close of business March 23.


Kristen Bremner covers list news, insert media, privacy and fundraising for DM News and DMNews.com. To keep up with the latest developments in these areas, subscribe to our daily and weekly e-mail newsletters by visiting www.dmnews.com/newsletters


Share this article:

Sign up to our newsletters

Follow us on Twitter @dmnews

Latest Jobs:

More in News

NBA Names Insurance Exec as its CMO

NBA Names Insurance Exec as its CMO

Nationwide and State Farm veteran Pamela El takes the league's marketing helm next month.

Bloomberg Names Bigley CMO

Bloomberg Names Bigley CMO

Communications chief Deirdre Bigley is appointed head of global marketing for the business and financial news company.

2014 Essential Guide to Omnichannel Marketing

2014 Essential Guide to Omnichannel Marketing

The 2014 Essential Guide to Omnichannel Marketing—everything you need to know about Omnichannel, all in one spot. Read on for insight.