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Gingko Completes IRI Acquisition
Gingko Corporation has completed its acquisition of Information Resources, Inc. (IRI), and has announced today that IRI has secured significant financing for working capital purposes from Wells Fargo Foothill, a part of Wells Fargo & Company (WFC).
According to Bill Chisholm, a partner at Symphony Technology Group and a Board member of Gingko, the capital 'puts IRI on a far stronger financial footing, and positions IRI to fulfil our objectives of helping to transform the CPG industry'.
Under the terms of the merger agreement, holders of IRI stock at the time of the merger will receive, without interest, one CVR (as defined in the merger agreement) and $3.30 in cash per share upon the surrender of their certificates for their shares to LaSalle Bank, National Association, the paying agent for the merger. This is the same consideration that Gingko paid to IRI shareholders who tendered into its tender offer in exchange for their IRI shares. Those IRI stockholders who did not participate in the tender offer will receive instructions.
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