Acxiom Announces Preliminary Results of Self-Tender Offer
September 13 2006 - 8:00AM
Business Wire
Acxiom(R) Corporation (Nasdaq:ACXM) today announced preliminary
results of its modified "Dutch Auction" self-tender offer, which
expired at 5:00 p.m. EDT Tuesday, September 12, 2006. Based on the
preliminary count by the depositary for the tender offer, an
aggregate of 24,911,233 shares of Acxiom common stock were properly
tendered and not withdrawn at or below a price of $27.00 per share,
including 8,537,481 shares that were tendered through notice of
guaranteed delivery. Based on these preliminary results the company
expects to purchase 11,111,111 shares in the tender offer, subject
to proration, at $25.75 per share. Pursuant to the terms of the
tender offer, Acxiom offered to purchase shares of its common stock
at a price not less than $25 and not greater than $27 per share.
The results announced today are preliminary and subject to
verification by the depositary of the proper delivery of the shares
validly tendered and not withdrawn. Final results will be announced
following the completion of the verification process. Acxiom
expects payment for the shares accepted for purchase and the return
of all shares tendered and not accepted for purchase to occur
within one week. The repurchase of the shares is expected to be
funded with proceeds from a new $800 million credit facility on or
about September 15, 2006. ValueAct Capital has advised Acxiom that
neither ValueAct Capital nor any of its affiliates tendered any of
its shares of Acxiom into the modified Dutch Auction. The dealer
managers for the self-tender offer are J.P. Morgan Securities Inc.
and Stephens Inc. The information agent is Innisfree M&A
Incorporated, and the depositary is Computershare Trust Company,
N.A. Any questions about the self-tender offer may be directed to
the information agent at 1-877-750-9457, or the dealer managers,
J.P. Morgan Securities Inc. at 1-877-371-5947 or Stephens Inc. at
1-800-643-9691. About Acxiom Acxiom Corporation (Nasdaq: ACXM)
integrates data, services and technology to create and deliver
customer and information management solutions for many of the
largest, most respected companies in the world. The core components
of Acxiom's innovative solutions are Customer Data Integration
(CDI) technology, data, database services, IT outsourcing,
consulting and analytics, and privacy leadership. Founded in 1969,
Acxiom is headquartered in Little Rock, Arkansas, with locations
throughout the United States and Europe, and in Australia and
China.
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