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An inside look at trends, issues and products in the world of suppliers and aggregators providing cross-sector B2B content capabilities.
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ContentBloggerTM - Business Content Suppliers and Aggregators |
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| Monday, February 09, 2004 |
The Other Shoe Drops: ValueAct Offers to Take OneSource Private
Business content aggregator OneSource Information Services, Inc. announced that it has received an unsolicited letter from its 32 percent stockholder ValueAct Capital stating that ValueAct is willing to buy outstanding shares of OneSource stock at USD 8.10 a share; as of this afternoon, shares were trading steadily on NASDAQ at about USD 7.82, recovering from an earlier plunge after OneSource's earnings announcement on 5 February. ValueAct had made rattling noises that it was becoming uninterested in taking OneSource private, but when the special committee reported back to the board that there were no other takers for a buyout, ValueAct made an offer. Is it an offer that OneSource can't refuse? With former CEO Dan Schimmel having bowed out, the way seems to be clear for a new direction at OneSource, one that could require changes in direction that may not please public investors in the short run. Going private at this point might be just the thing to allow OneSource to get some time to spark that new direction, but it will take some time to see if the atmosphere that ValueAct creates is really going to be positive enough to let such a transformation occur. Here's hoping for the best.
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posted by John Blossom at
4:08 PM |
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