ValueAct Capital increased to $25 per share, up from $23 per share, its offer to acquire roughly 77 million shares of Acxiom Corp. The offer announced on Monday is worth roughly $2 billion.
The new amount represent s a 37% premium over Acxiom’s share price on June 3. San Francisco-based ValueAct is presently Acxiom’s largest shareholder with nearly a 12% stake in the company.
In a letter to the Acxiom board of directors, San Francisco-based ValueAct called for replacing Acxiom’s senior executives. It said Acxiom’s data services sales were flat, compared to its competitors Harte-Hanks and Experian.
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