Magazine article Information Today

D&B, Hoover's

Magazine article Information Today

D&B, Hoover's

Article excerpt

D&B reported fourth-quarter earnings of $64.3 million, compared to $53.9 million for fourth-quarter 2001. Revenue rose to $356.1 million from $337.1 million. D&B had announced it would cut costs, sell its European headquarters, and put more focus on Web-product delivery.

In early December 2002, D&B made a $7-per-share purchase offer for Hoover's. (See the NewsBreak at http://www.info today.com/newsbreaks/nb021216-1.htm.) Hoover's shareholders were due to vote Feb. 14 on the acquisition, but this was complicated both by a lawsuit that seeks to block the purchase and by a competing bid of $8 per share. Marathon Partners, a 9-percent shareholder, teamed up with technology investor Austin Ventures to fight the D&B purchase with the higher offer. D&B said it would not raise its bid.

Hoover's announced that it would "convene, but immediately adjourn" its special meeting of stockholders scheduled for Feb. 14 and reconvene it on March 3, 2003. …

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