* Offer from CCMP Capital at $635 mln, including debt
* Infogroup shareholders to get $8/shr
* Offer at 2 pct discount to Friday close
* Deal expected to close in early summer
* Infogroup shrs down 3 pct
(Recasts throughout; adds details, updates share movement)
March 8 Infogroup Inc IUSA.O, a
business-to-business marketing firm, agreed to be taken private
by CCMP Capital for about $463 million in a discounted deal,
sending its shares down 3 percent.
Infogroup shareholders will get $8.00 per share, a discount
of 2 percent to the stock's closing price on Nasdaq March 5,
and the deal is expected to close this summer.
The deal value is based on Infogroup's outstanding shares
as of Feb. 19. Including assumption of debt, the deal is valued
at $635 million.
Bank of America has agreed to provide debt financing for
the transaction, Infogroup said in a statement.
BofA Merrill Lynch is acting as financial adviser to
private equity firm CCMP Capital Advisors LLC.
In December 2008, Infogroup had hired investment bank
Evercore to explore strategic alternatives. Evercore also
advised Infogroup on its $155 million sale of research services
firm Macro International in April 2009.
On Friday, Investment fund ABRY Partners offered to buy
broadband services provider RCN Corp RCNI.O for about $536
million, in yet another indication of private equity firms'
renewed interest in deal making. [ID:nSGE6240GR]
Shares of Infogroup were down 20 cents, at $7.96 in
afternoon trade Monday on Nasdaq. Earlier in the day they
touched a low of $7.88.
(Reporting by Sakthi Prasad in Bangalore and Saqib Iqbal
Ahmed; Editing by Unnikrishnan Nair)