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BULLETIN: Dun & Bradstreet Corp. Agrees to Acquire Hoover's Inc. Dec 02
Standard & Poors, Dec 2002
Abstract
Standard & Poor's Ratings Services said today that its credit rating and outlook on Dun & Bradstreet Corp. (BBB+/Stable/A-2) are unaffected by the company's agreement to acquire unrated Hoover's Inc. for about $117 million ($7 per share) in cash, or about $81 million net of Hoover's cash. At Sept. 30, 2002, Dun & Bradstreet had $136 million in cash. With revenues of about $32 million for the 12 months ended September 2002, Hoover's provides industry and market intelligence on public and private companies, primarily to sales, marketing, and business development professionals. The transaction is expected to close in the 2003 first quarter, subject to regulatory and Hoover's shareholders approvals....
Companies mentioned in this report are: Dun & Bradstreet Corp. (The)
Action: S&P Event
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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