FTD's 7¾% notes to be retired as part of acquisition by United Online

By Laura Lutz

Des Moines, April 30 - United Online, Inc. and FTD Group, Inc. announced that FTD's 7¾% senior subordinated notes will be defeased or retired in connection with the acquisition of FTD by United Online.

The notes will either be defeased upon closing of the acquisition or retired through a tender offer and consent solicitation.

Closing of the acquisition is expected during the third quarter of 2008. It depends on approval from FTD stockholders and receipt of sufficient financing.

FTD is a floral company based in Downers Grove, Ill. United Online is a Woodland Hills, Calif.-based provider of consumer internet and media services. After the acquisition, FTD will continue to operate from its existing facilities.

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