Infogroup has scheduled a June 29 stockholder meeting to vote on CCMP Capital Advisors’ proposed $635 million acquisition of the company.
Infogroup sent materials to shareholders May 28, recommending they vote in favor of the deal. The meeting will be held in Omaha, NE, where the company is based.
Two investment firms that hold Infogroup stock, Hotchkiss and Wiley Capital Management and Stonerise Capital Partners, have voiced opposition to the deal, calling it underpriced.
The database company’s board, acting with the recommendation of an independent mergers and acquisitions committee, has unanimously approved the acquisition.
CCMP plans to acquire all outstanding shares of common stock for $8 each in cash.
An Infogroup representative could not be reached for comment. A CCMP representative has told DMNews that the firm will not comment about the acquisition until its approval.
