Valassis to acquire ADVO.

Valassis announced that it has entered into a definitive merger agreement with ADVO. The fully financed transaction is valued at approximately $1.3 billion (on a diluted basis), including approximately $125 million in existing ADVO debt which Valassis expects to refinance.

“Together, Valassis and ADVO will be well positioned for growth as a more diversified company with complementary capabilities, product offerings and clients,” said Alan F. Schultz, Valassis Chairman, President and CEO. “We will have an unsurpassed ability to deliver value and savings to consumers where, when and how they want — and to do so with advanced
analytics and targeting capabilities that maximize advertisers’ return on investment. This combination is a first in the media services industry and uniquely positions us to capture growth by anticipating the needs of the marketplace and evolving to meet them.”

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