Catalina Considers Sale

In the US, behavior-based targeting specialist Catalina Marketing Corporation is inviting approaches from potential buyers, following an unsolicited expression of interest from a third party private equity firm.

Catalina has engaged Goldman Sachs & Co., as financial advisor, to 'solicit expressions of interest from other third parties' and advise it on the advisability of pursuing a sale. The company emphasises that no decisions with respect to its sale have been made.

Goldman Sachs owns about 5% of Catalina's shares, but is only the seventh largest shareholder. ValueAct Capital LLC has around 15.5%, T. Rowe Price Associates Inc. about 12.2% and Catalina Chairman Frederick Beinecke has 6.7%, with three others holding just over 5%. According to Reuters, the company had a market capitalization of $1.1 billion prior to the news but on its release shares jumped $4.02, or 16.6%, to $28.25 on the New York Stock Exchange. On Friday the sale was attracting offers of around $30 a share from private equity firms, still below the 12-month high of $32.80.

Based in St. Petersburg, FL, Catalina offers an array of behavior-based promotional messaging, loyalty programs and direct-to-patient information, based on a combination of insight into consumer behavior and dynamic consumer access. It is on the web at www.catalinamarketing.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.

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