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BtoB

InfoUSA board hires Lazard to consider buyout

Published on .

Omaha—InfoUSA on Friday announced its board has hired Lazard Ltd., a financial advisory company, to assist in the evaluation of a buyout offer from infoUSA’s founder and CEO Vin Gupta. It also said it has entered a "standstill" agreement with Gupta, effective until Oct. 16, during which time he will not take steps to acquire or make a proxy offer for the company.

Last month, the company announced it had formed a committee of independent directors to consider Gupta’s acquisition proposal. Gupta, CEO of infoUSA, has offered to buy all shares of the public company that he does not already own to take it private.

—Carol Krol

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