InfoUSA Offers Digital Impact Stockholders $2 Per Share
The Omaha, NE-based company said yesterday that it commenced a tender offer for all outstanding shares of common stock of Digital Impact for $2 per share in cash. The offer was executed through DII Acquisition Corp., a wholly owned subsidiary of infoUSA.
"While we still prefer to move forward with Digital Impact on a cooperative basis, Digital Impact's failure to agree to negotiate with us or to engage in substantive discussions regarding the terms of our proposal has left us no choice but to take our offer directly to Digital Impact's stockholders -- the owners of the company," Vin Gupta, chairman/CEO of infoUSA, said in a statement.
The tender offer and withdrawal rights are scheduled to expire at midnight ET on March 23, unless extended.