ValueAct Capital is prepared to present an offer to acquire all outstanding shares of Acxiom common stock it does not already own at a purchase price of $23.00 per share.
"The Board of Directors and senior leadership strongly believe in the Company's business and current strategy. We remain committed, as we always have been, to delivering value and doing the right thing for our investors, our associates and our clients," said Acxiom Company Leader Charles D. Morgan.
Acxiom integrates data, services and technology to create and deliver customer and information management solutions.
ValueAct Capital Partners is an investment partnership, with more than $625 million in assets under management, focused on the investment in a limited number of outstanding businesses, primarily in the small- capitalization public company universe, where it can be an active participant in the implementation of value-creating strategies and solutions. ValueAct Capital seeks to acquire ownership stakes, primarily in publicly traded companies, through both open-market purchases and negotiated transactions.
In January 2002, ValueAct Capital Partners purchased 3 million shares of Class A common stock from Martha Stewart Living Omnimedia Chairman and Chief Executive Officer Martha Stewart. The shares were priced at $15.00 per share, and represent approximately 6% of MSO's outstanding shares and approximately 9% of Ms. Stewart's holdings in MSO stock.