Big Flower Holdings Inc., New York, said yesterday its stockholders have approved the $1.9 billion merger of Big Flower with BFH Merger Corp., an affiliate of leveraged buyout firm Thomas H. Lee Co., Boston, and Evercore Capital Partners LP, New York.
The merger was originally agreed to in June; under those terms, public stockholders will receive $31.50 a share of Big Flower common stock. The merger is expected to close during fourth quarter 1999.
Big Flower is a direct marketing company that specializes in newspaper advertising inserts, direct mail and other direct marketing services. Evercore Capital Partners was involved in another significant deal this year: the $767 million acquisition of American Media, which publishes tabloids The National Enquirer, Star and Weekly World News.