infoUSA chairman and CEO Vinod Gupta announced yesterday he plans to withdraw his $11.75 per share proposal to acquire all shares of the Omaha, NB-based data company he does not currently own.
He reiterated that he does not intend to sell his shares or to vote his shares in favor of any other change in control transaction.
The move follows the decision by a special committee of the company’s board of directors not to move forward with his acquisition proposal. In a statement, the company stated it was “in the best interests of the company’s stockholders” to continue to explore potential strategic alternatives.
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