Acxiom Acknowledges Receipt Of Letter from ValueAct Capital
25 October 2005 - 5:17AM
Business Wire
Acxiom(R) Corporation (Nasdaq: ACXM) today confirmed that it has
received a letter from ValueAct Capital, dated October 21, 2005
proposing to acquire all outstanding shares of Acxiom common stock
it does not already own at a cash purchase price of $25.00 per
share. The Acxiom Board of Directors, in accordance with its
fiduciary obligations, and in consultation with its independent
financial and legal advisors, will review the letter in order to
determine the appropriate course of action to serve the best
interest of the Company and its stockholders. Acxiom Company Leader
Charles D. Morgan said, "As Acxiom said on Oct. 19 upon announcing
our second-quarter earnings results, Acxiom is encouraged by what
we have achieved, we are making demonstrable progress, and we are
convinced we are making the right long-term decisions for our
business. Acxiom senior management strongly disagrees with
ValueAct's analysis of our business, and we believe the results of
this last quarter and the continuing progress we are making are
evidence that we are moving in the right long-term direction."
About Acxiom Acxiom Corporation (Nasdaq: ACXM) integrates data,
services and technology to create and deliver customer and
information management solutions for many of the largest, most
respected companies in the world. The core components of Acxiom's
innovative solutions are Customer Data Integration (CDI)
technology, data, database services, IT outsourcing, consulting and
analytics, and privacy leadership. Founded in 1969, Acxiom is
headquartered in Little Rock, Arkansas, with locations throughout
the United States and Europe, and in Australia and China. For more
information, visit www.acxiom.com.
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