Interactive Data agrees to $3.4B acquisition

[May 04, 2010]  BEDFORD, Mass. (AP) -- Interactive Data is agreeing to a $3.4 billion buyout by private equity firms Silver Lake and Warburg Pincus.

The financial data provider had been exploring strategic options, including a potential sale.

Interactive Data Corp.'s biggest shareholder, U.K. publisher Pearson PLC, and its board of directors have approved the deal.

Interactive stockholders will receive $33.86 in cash for each share they own. This represents an approximately 33 percent premium over its Jan. 14 stock price, the last trading day before it decided to explore options.

The acquisition is expected to close before the third quarter's end.

[Associated Press]

Copyright 2010 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.