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Alliance Data to borrow under credit facility to finance Conversant buy
By Tali Rackner
Norfolk, Va., Sept. 11 – Alliance Data Systems Corp. plans to use availability under its credit facility and cash on hand to partially finance its acquisition of Conversant, Inc., according to a press release.
Alliance Data will acquire Conversant for a combination of cash and stock valued at about $2.3 billion, or $35 per Conversant share. The purchase price is structured to be paid with about 48% cash and 52% shares.
Alliance Data is a Plano, Texas-based provider of direct marketing services. Conversant is a digital marketing company based in Westlake Village, Calif.
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