Vertrue stockholders to vote July 12 on merger deal

By Lisa Kerner

Charlotte, N.C., June 12 - Vertrue Inc. will hold a special meeting of stockholders on July 12 at 8:30 a.m. ET to vote on the proposed merger with Velo Holdings Inc. for $48.50 per share in cash, according to a schedule 14A filing with the Securities and Exchange Commission.

On March 22, Vertrue entered into a definitive agreement to be acquired by members of the company's management and an investor group including One Equity Partners, Oak Investment Partners and Rho Ventures.

Vertrue's special committee and its board of directors approved the merger agreement and recommend that its stockholders do the same, a prior news release stated.

The transaction is expected to be completed in the first fiscal quarter of 2008, which ends on Sept. 30, 2007. Gary Johnson will remain in his role as Vertrue's chief executive officer.

Equity for the transaction will be provided by One Equity Partners, Oak Investment Partners, Rho Ventures and members of management. Debt financing will be provided by Lehman Brothers and JPMorgan, according to the release.

Vertrue is an internet direct marketing services company located in Norwalk, Conn.

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