Inuvo (INUV) to Acquire Vertro (VTRO) in All-Stock Deal
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Vertro, Inc. (Nasdaq: VTRO) and Inuvo, Inc. (AMEX: INUV) have entered into a definitive agreement pursuant to which Inuvo will acquire Vertro in an all stock transaction.
Under terms of the agreement, which was unanimously approved by the Board of Directors of each company, at closing of the transaction Vertro will become a wholly-owned subsidiary of Inuvo in a tax-free exchange of shares at an exchange ratio of 1.546 shares of Inuvo common stock per each share of Vertro common stock, or about $2.71 per share. The merger is expected to close in Q411 or Q112, subject to satisfaction of the closing conditions.
Under terms of the agreement, which was unanimously approved by the Board of Directors of each company, at closing of the transaction Vertro will become a wholly-owned subsidiary of Inuvo in a tax-free exchange of shares at an exchange ratio of 1.546 shares of Inuvo common stock per each share of Vertro common stock, or about $2.71 per share. The merger is expected to close in Q411 or Q112, subject to satisfaction of the closing conditions.
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