InfoUSA Inc. said Friday today that its Board of Directors had dissolved the Special Committee of directors that was formed to review a bid proposal from CEO Vinod Gupta to acquire all outstanding shares of the firm.
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InfoUSA Inc. said Friday today that its Board of Directors had dissolved the Special Committee of directors that was formed to review a bid proposal from CEO Vinod Gupta to acquire all outstanding shares of the firm.
Gupta had offered $11.75 per share through Vin Gupta & Company, LLC for all shares he did not own. On Thursday, the committee stated that it would not move on the proposal, ad it was “in the best interests of the company’s stockholders” to continue to explore strategic alternatives. Gupta at that time announced that he would withdraw his offer. (Direct Newsline, Aug. 26).
