EDGAR® Online, Inc. a provider of financial data, analytics and disclosure management services, announced today that it has received notice from the Premerger Notification Office of the Federal Trade Commission that early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 was granted in connection with the previously announced merger of EDGAR® Online, Inc. and R.R. Donnelley & Sons Company.
The transaction remains subject to other customary closing conditions, including approval by EDGAR® Online’s stockholders. Subject to satisfaction of these other closing conditions, the merger is expected to close during the third quarter of 2012.
R.R. Donnelley & Sons Co. had announced in May that it will buy financial data company Edgar Online Inc. for about $38.6 million, adding to its digital products. The acquisition values Edgar at $1.092 per share. Including the company’s debt and a payment equal to the redemption price of its preferred shares, R.R. Donnelley said the deal is worth $70.5 million.
At the end of March, Edgar said it had $1 million in long-term debt and $3.2 million of cash and cash equivalents on hand. Edgar said it had $11 million in total liabilities at the end of the first quarter.
R.R. Donnelley’s services include printing labels and online marketing tools. Edgar’s website lets customers search, download and skim regulatory documents filed with U.S. Securities and Exchange Commission. Edgar has provided services to R.R. Donnelley’s financial services unit since 2008. If the deal goes through, the acquisition should start adding to R.R. Donnelley’s profits in 2013, the company said. Shares of R.R. Donnelley fell 12 cents, or 1 percent, to close at $10.30. Edgar stock surged 36 cents, or 50 percent, to close at $1.08.
Source: Yahoo Finance