FTD shareholders to vote on United Online buyout Aug. 25

By Julie A. Miller

Washington, July 23 - FTD Group, Inc., announced that it will hold a special meeting of stockholders on Aug. 25 to consider United Online, Inc.'s buyout proposal, which has already been approved by FTD's board of directors.

United Online is offering FTD shareholders $10.15 per share in cash and 0.4087 of a share of United Online common stock, for a total value of $14.38 per share of FTD common stock. The total payout to shareholders would be approximately $434 million.

FTD, a worldwide provider of floral products, would operate as a wholly owned subsidiary of United Online from its existing facilities in Downers Grove, Ill., and the United Kingdom.

United Online is a Woodland Hills, Calif.-based provider of consumer internet and media services. Its services include Classmates, MyPoints, NetZero and Juno e-mail.

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