Investor firm says InfoGroup sale price is too low: report

Hotchkis and Wiley Capital Management, the investment firm that owns nearly 6% of InfoGroup's stock, sent a letter to InfoGroup's board this week saying that CCMP Capital Advisors' $460 million offer is too low, according to a report from the Associated Press.

However, InfoGroup's two largest shareholders, which own a combined 36% of the company's stock, support the sale to CCMP, according to the AP.

CCMP bought Infogroup for a total of $635 million, including debt refinancing, in March.