Vertrue plans new credit facility via Lehman, JPMorgan to back buyout

By Sara Rosenberg

New York, March 22 - Vertrue Inc. is planning on getting a new credit facility to help back its buyout by management, One Equity Partners, Oak Investment Partners and Rho Ventures, according to a market source.

Lehman Brothers and JPMorgan are the lead banks on the deal.

Under the terms of the agreement, Vertrue's stockholders will receive $48.50 in cash per share of common stock. The transaction is valued at about $800 million.

The buyout is expected to be completed in the first fiscal quarter of 2008, which ends on Sept. 30, and is subject to receipt of stockholder and customary regulatory approvals as well as satisfaction of additional customary closing conditions.

Vertrue is a Norwalk, Conn., internet direct marketing services company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.