Shareholders of online marketing and dating service Vertrue
Inc. decided Thursday to postpone a meeting regarding the buyout of the
company by One Equity Partners, Oak Investment Partners and Rho Ventures in
order to solicit additional votes. The take-private agreement, which calls for
Vertrue's stockholders to receive $48.50 in cash for each share of Vertrue
common stock, appeared likely to be shot down as
TheDeal.com
had reported earlier in the week. It has faced opposition from
stakeholders Brencourt Advisors LLC and Ramius Capital Group LLC, which
contend the offer is too low. Institutional Shareholder Services Inc. has
recommended shareholders vote against the deal. The special stockholder
meeting has been rescheduled for July 31. By late Friday, Vertrue’s shares
were trading at $48.90, up from Wednesday’s close of $48.55. Vertrue is
best known for its online dating service Lava Life, but also owns consumer
loyalty programs, insurance marketing and plastic surgery centers.
—Christine Idzelis
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recent story from TheDeal.com
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deal announcement from TheDeal.com
