Acxiom Rejects Takeover Bid From Private Group
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From Associated Press
Acxiom Corp. said its board had rejected a $2-billion offer for the business software company from a private investor group.
ValueAct Capital of San Francisco offered $25 a share for Acxiom stock that the investor group did not already own. ValueAct is Little Rock, Ark.-based Acxiom’s largest shareholder, with an 11.75% stake. ValueAct had earlier bid $23 a share, or $1.8 billion.
Acxiom’s shares rose 14 cents to $22.78.
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