Insightful analysis and commentary for the US and global equity investor
Contributors: Douglas McIntyre Jon C. Ogg

Previous Posts

Friday, September 01, 2006

Valassis Hearts ADVO - NOT!

By William Trent, CFA of Stock Market Beat

Hmm… Valassis has a bad quarter, decides to buy ADVO.

ADVO has a bad quarter (big surprise) and Valassis has second thoughts.

Valassis Sues ADVO for Fraud and Rescinds Offer

Valassis is rescinding its $1.3 billion offer to acquire ADVO and is suing the direct mail company for fraud, Valassis announced on Wednesday.

The Livonia, Mich.-based marketing company alleges that ADVO executives “materially misrepresented the financial health of the company and failed to reveal internal control deficiencies,” according to a statement.

What’s next? Glamis salting their mines?

Powered by Blogger