Market Researcher IRI Receives Another Bid
Oct 26, 2003, 12:00 AM
Information Resources Inc. Friday said it received an unsolicited, non-binding offer from Open Ratings Inc. to acquire all of IRI's outstanding shares. The offer is for $3.75 per share in cash, as well as rights associated with IRI's antitrust suit against VNU's ACNielsen unit and it's predecessor companies Dun & Bradstreet Corp. and IMS International. IRI previously entered a definitive merger agreement with Gingko Acquisition Corp. for $3.30 in cash per IRI share, plus an agreement giving IRI shareholders a majority share of any proceeds from a settlement of the antitrust suit. IRI, along with ACNielsen, has dominated the consumer packaged goods database field, though IRI has recently lost market share to ACNielsen.