ValueAct Capital to buy Catalina Marketing

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St. Petersburg, Fla.—Catalina Marketing Corp., a direct marketing company, said Thursday that it has entered into a definitive agreement to be acquired by ValueAct Capital, an investment firm, in a cash deal valued at $1.70 billion.

Under the terms of the merger agreement, Catalina may solicit alternative proposals from third parties during the next 45 days. ValueAct originally made a takeover bid for the company on Feb. 20.

Jeffrey W. Ubben, who has served as a director of Catalina since May 2006, is co-founder, managing partner and principal owner of ValueAct.

—Carol Krol

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