24/7 Real Media Announces Expiration of Hart-Scott-Rodino Waiting Period for Tender Offer by WPP Group
June 15 2007 - 6:00AM
Business Wire
24/7 Real Media, Inc. (NASDAQ: TFSM), a leading global digital
marketing company, today announced that the waiting period required
under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as
amended, expired at 11:59 p.m., New York City time, on Wednesday,
June 13, 2007, without a request for additional information from
the U.S. Federal Trade Commission or the Antitrust Division of the
U.S. Department of Justice, with respect to the proposed
acquisition of shares of 24/7 Real Media, Inc. by WPP Group plc
pursuant to the tender offer described below. The expiration of the
Hart-Scott-Rodino waiting period has satisfied one of the
conditions to the closing of the tender offer. The tender offer is
conditioned upon at least a majority of the outstanding 24/7 Real
Media shares, determined on a fully diluted basis (calculated in
accordance with the terms of the Merger Agreement, dated as of May
17, 2007, entered into between 24/7 Real Media, Inc. and WPP Group
plc), being tendered, as well as the satisfaction of regulatory and
other customary conditions. Approval of the transaction by WPP
shareholders is not required. As previously announced, a subsidiary
of WPP has commenced a cash tender offer to acquire all of 24/7
Real Media�s outstanding shares of common stock for $11.75 per
share net to the sellers in cash without interest. Unless the
tender offer is extended, it and any withdrawal rights to which
24/7 Real Media�s stockholders may be entitled will expire at 12:00
midnight, New York City time, on Wednesday, June 27, 2007 (the end
of the day on Wednesday). About 24/7 Real Media, Inc. 24/7 Real
Media, Inc. is a leading global digital marketing company,
empowering advertisers and publishers to engage their target
audiences with greater precision, transparency and ROI. Using its
award winning ad serving, targeting, tracking and analytics
platform, powerful search marketing capabilities and global network
of specialized Web sites, the company has turned the art of
reaching audiences across virtually any digital medium into a
measurable science. The company is headquartered in New York, with
20 offices in 12 countries throughout North America, Europe and the
Asia Pacific region. For more information, please visit
www.247realmedia.com. 24/7 Real Media: The Science of Digital
Marketing. 24/7 Real Media is a member of the NAI and adheres to
the NAI privacy principles that have been applauded by the FTC.
These principles are designed to help ensure Internet user privacy.
For more information about online data collection associated with
ad serving, including online preference marketing and an
opportunity to opt-out of 24/7 Real Media cookies, go to:
www.networkadvertising.org.
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