Gupta offers to take infoUSA private

Published on .

Omaha, Neb.—Vin Gupta, founder, chairman and CEO of infoUSA, on Monday offered to acquire all outstanding publicly held shares of the company and take it private.

Gupta, who holds 38% of infoUSA’s common shares, offered stockholders $11.75 per share, a 25% premium over Monday’s closing price.

The transaction would likely be completed in the third quarter, subject to terms and conditions and well as finalizing debt financing.

"This proposal offers infoUSA’s shareholders the best opportunity to realize a very attractive value for their shares," Gupta said in a letter to infoUSA’s board of directors.

—Carol Krol

Most Popular
In this article: