DEFA14A
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 14A
Proxy Statement Pursuant to Section 14(a) of the Securities
Exchange Act of 1934 (Amendment No. )
Filed by the Registrant þ
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Preliminary Proxy Statement |
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Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) |
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Soliciting Material Pursuant to §240.14a-12 |
VERTRUE INCORPORATED
(Name of Registrant as Specified In Its Charter)
(Name of Person(s) Filing Proxy Statement, if other than the Registrant)
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News Release
Vertrue Proceeding with OEP/Oak Investment Partners/Rho Ventures V Merger After ``Go-Shop
Process Ends
NORWALK, Conn.(BUSINESS WIRE)April 19, 2007Vertrue Incorporated (Nasdaq: VTRU), a
premier Internet direct marketing services company, announced today that the go-shop process
conducted on Vertrues behalf by FTN Midwest Securities Corp. (FTN), the independent financial
advisor to the special committee of the board of directors of Vertrue (the Special Committee), has
ended. During the process, Vertrue did not receive any proposal that could reasonably be expected
to result in a proposal superior to the definitive merger agreement announced on March 22, 2007
with an investor group consisting of One Equity Partners, Oak Investment Partners and Rho Ventures
V (the Merger). Under the terms of the merger agreement, stockholders will be paid $48.50 per share
following the closing. The Merger is subject to receipt of stockholder approval and required
regulatory approvals, as well as satisfaction of other customary closing conditions. There is no
financing condition to the Merger.
Under the terms of the merger agreement, Vertrue had the right to solicit other proposals through
12:01 a.m. on April 16, 2007. The Vertrue board, acting through the Special Committee, with the
assistance of FTN, solicited interest from 20 potential purchasers, including marketing companies
(online and offline), Internet companies, advertisement agencies, and publishing and media
companies.
Vertrue and the investor group are continuing their efforts to complete the Merger. Vertrue and the
investor group have received the approval of early termination of the waiting period from the
Federal Trade Commission under the Hart-Scott-Rodino Act, as amended. In addition, Vertrue and the
investor group have filed a request for approval with Office of the Superintendent of Financial
Institutions in Canada (under the Bank Act of Canada) and have submitted filings with Canadian
Competition Bureau (under the Competition Act (Canada)), which are not expected to impact the
timing of closing the Merger. Vertrue currently expects to hold its special meeting of stockholders
to consider and vote on the Merger in the summer on a date to be determined after the U.S.
Securities and Exchange Commission (SEC) review of the preliminary proxy statement relating to the
Merger.
ABOUT VERTRUE
Vertrue Incorporated is a premier Internet direct marketing services company. Vertrue operates a
diverse group of marketing businesses that share a unified mission: to provide every consumer with
access to savings and services that improve their daily lives. Vertrues members and customers have
access to direct-to-consumer savings across its five vertical markets of healthcare, personal
property, security/insurance, discounts, and personals, which are all offered online through a set of diverse Internet
marketing channels. Vertrue is headquartered in Norwalk, Conn.
FORWARD-LOOKING STATEMENTS
Certain statements contained herein may constitute forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve
known and unknown risks, uncertainties and other factors which may cause the actual results,
performance or achievements of Vertrue Incorporated to be materially different from any future
results, performance or achievements expressed or implied by such forward-looking statements. Such
factors include, among others, risks associated with the timing of and costs of financing
commitments, general competitive factors and regulatory developments. More detailed information
about these risks, uncertainties and other factors is set forth in the Annual Report on Form 10-K
for the fiscal year ended June 30, 2006 of Vertrue and in its Quarterly Report on Form 10-Q for the
fiscal quarter ended December 31, 2006. Risks and uncertainties relating to the proposed
transaction include the ability of the parties to the merger agreement to satisfy the conditions to
closing specified in the merger agreement. Vertrue is under no obligation to, and expressly
disclaims any obligation to, update or alter its forward-looking statements.
ADDITIONAL INFORMATION AND WHERE TO FIND IT
In connection with the proposed merger of Vertrue with Velo Acquisition Inc., a Delaware
corporation and a wholly owned subsidiary of Velo Holdings Inc., a Delaware corporation, Vertrue
will prepare a proxy statement to be filed with the SEC. When completed, a definitive proxy
statement and a form of proxy will be mailed to the stockholders of Vertrue. BEFORE MAKING ANY
VOTING DECISION, VERTRUES STOCKHOLDERS ARE URGED TO READ THE PROXY STATEMENT REGARDING THE MERGER
CAREFULLY AND IN ITS ENTIRETY BECAUSE IT WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED
MERGER. Vertrues stockholders will be able to obtain, without charge, a copy of the proxy
statement (when available) and other relevant documents filed with the SEC from the SECs website
at www.sec.gov. Vertrues stockholders will also be able to obtain, without charge, a copy of the
proxy statement and other relevant documents (when available) by directing a request by mail or
telephone to Vertrue Incorporated, Attn. Legal Department, 20 Glover Avenue, Norwalk, CT 06850,
telephone: (203) 324-7635, or from Vertrues website, www.vertrue.com.
PARTICIPANTS IN SOLICITATION
Vertrue and its directors and officers may be deemed to be participants in the solicitation of
proxies from Vertrues stockholders with respect to the Merger. Information about Vertrues
directors and executive officers and their ownership of Vertrues common stock is set forth in the
proxy statement for Vertrues 2006 Annual Meeting of Stockholders, which was filed with the SEC on
October 12, 2006. Stockholders may obtain additional information regarding the interests of Vertrue
and its directors and executive officers in the Merger, which may be different than those of
Vertrues stockholders generally, by reading the proxy statement and other relevant
documents regarding the Merger, when filed with the SEC.
CONTACT: Investors:
Gary A. Johnson, 203-324-7635
SOURCE: Vertrue Incorporated