Infogroup shareholders have OK’d the company's $460m sale to CCMP Capital Advisors, with 87 percent of the firm’s 57.9 million shares accounted for in the vote but an unspecified majority approving the deal.
According to www.omaha.com
about 35 people, a mixture of company executives and shareholders, attended a brief special meeting in Omaha where the deal's approval was announced.
, first revealed in March, has met continuing opposition from certain shareholder groups, with opponents accusing
the Board of attempting to sell the company at ‘an irresponsibly low price’, and as late as last week it seemed possible opponents might block
Infogroup shareholders will receive $8 for each share of common stock held, when the deal closes sometime after July 1st and former Dow Jones EVP Clare Hart
takes over as CEO from Bill Fairfield, who is retiring.
Founder and former Chairman Vin Gupta,who owns more than 33% of the shares and stands to make an estimated $118m from the sale, had expressed his support for it to the Board in advance of the initial announcement.
Omaha, NE-based Infogroup is online at www.infogroup.com