Equifax completes stock, cash acquisition of TALX

By Lisa Kerner

Charlotte, N.C., May 15 - Equifax, Inc. completed the acquisition of TALX Corp. after TALX shareholders approved the companies' Feb. 14 merger agreement.

Under the terms of the merger agreement, each share of TALX common stock is converted into the right to receive either $35.50 in cash, without interest, or 0.861 of a share of Equifax common stock.

If the offer is oversubscribed, the agreement calls for 75% of the shares of TALX stock outstanding to be converted into shares of Equifax common stock. The remaining 25% will be converted into the right to receive cash, the company said.

Equifax expects to issue roughly 20.6 million shares of its common stock and to pay cash amounting to about $283 million in exchange for all of the issued and outstanding shares of TALX common stock.

TALX's common stock ceased trading on the Nasdaq Global Select Market on Tuesday as the company merged into Equifax's wholly owned subsidiary Chipper Corp. to became one of Equifax's five business units.

"TALX products and services will enable Equifax to broaden its suite of solutions for customers and expand its position as an industry leader in data, analytics and technology," Equifax chairman and chief executive officer Richard F. Smith said in a company news release.

TALX is a provider of employment verification and related human resource/payroll services based in St. Louis.

Equifax is an Atlanta information technology provider that collects and organizes credit, financial, public record, demographic and marketing information on individuals and businesses.

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