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NEW YORK The board of directors at Digital Impact recommended shareholders decline InfoUSA’s unsolicited offer to buy the company for about $71 million, saying the price was too low.
InfoUSA, an Omaha, Neb.-based database company, last month offered to pay $2 in cash for the 35.3 million outstanding shares of the Internet marketing agency. At the time, the price was a 38 percent premium on Digital Impact’s stock price. Since then, Digital Impact’s share price has risen to $1.99.
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