BRIEF-Gannett Co to acquire digital marketing solutions company Reachlocal Inc

lunes 27 de junio de 2016 16:27 GYT
 

June 27 (Reuters) - Gannett Co Inc

* Gannett to acquire digital marketing solutions company Reachlocal Inc

* Deal for total enterprise value of approximately $156 million

* Gannett expects this transaction to be approximately neutral to earnings per share in its first full year

* Deal for $4.60 per share in cash

* Gannett expects transaction to be modestly accretive in its second full year

* Under terms, subsidiary of Gannett will commence tender offer for all outstanding shares of reachlocal for $4.60 per share in cash

* Gannett co inc says transaction has been unanimously approved by boards of directors of both companies

* Initially, Reachlocal will expand co's digital revenue by roughly 50% with more than 16,000 customers throughout north america, latam etc

* Following closing of tender offer, in a second-step merger requiring no stockholder approval, co will acquire remaining reachlocal shares Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1-646-223-8780)