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MMI Investments sells shares of Acxiom
By Lisa Kerner
Charlotte, N.C., Oct. 3 - Investors led by MMI Investments, LP sold 7,645,788 shares of Acxiom Corp. stock between Oct. 1 and Oct. 3 priced from $15.25 to $15.67 each, according to a schedule 13D filing with the Securities and Exchange Commission.
The reporting persons own 151,500 shares, or 0.2%, of the Little Rock, Ark.-based provider of customer and information management services.
On Sept. 25, MMI Investments increased its ownership in Acxiom and, despite a previously reported proxy battle, said it was prepared to support the company's proposed acquisition.
Acxiom agreed to be acquired by Silver Lake and ValueAct Capital for $27.10 per share in an all-cash transaction valued at $3 billion, including the assumption of approximately $756 million of debt.
In July, the investor said it believed that Acxiom is worth more than $30 per share.
MMI and its affiliates reported a 9.7% stake in Acxiom in an earlier SEC filing.
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