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United Online finances

By   /   Friday, July 25th, 2008  /   Comments Off on United Online finances

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Woodland Hills-based United Online, a provider of consumer Internet and media services, announced July 17 it has received a commitment from Silicon Valley Bank to provide a $60 million senior secured term loan facility to be used by United Online to fund a portion of the cash merger consideration for its acquisition of FTD Group.

FTD stockholders will receive $10.15 in cash and 41 percent of a share of United Online common stock in exchange for each share of FTD common stock in the merger, for a total value of $14.38 per share of FTD common stock.

In such case, the total consideration to FTD stockholders and option holders would be approximately $434 million, consisting of approximately $307 million in cash and 12.4 million shares of United Online stock.

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