Acxiom to be Acquired by Private Equity Firms - Marred by Insider Trading
Silver Lake Partners and ValueAct Capital Partners LP will buy out Acxiom Corporation (ACXM) for $ 3 billion. As you may be aware, Acxiom is one of the top yellow pages data aggregaters, assembling a nationwide database of business listings by compiling information they obtain from printed yellow pages books of all the major directory companies.
Unfortunately, Bloomberg reports that a lot of Acxiom options were abruptly and suspiciously traded on May 10th, six days prior to the announcement of the acquisition. The spike in trading in that security was ten times higher than average.
The SEC is now investigating, and it’s probably not going to be hard for them to determine if some employees acted on insider knowledge.
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Posted by Chris Silver Smith of Netconcepts on 05/21/2007 | Permalink | 
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Filed under: Yellow PagesAcxiom, Insider-Trading, Yellow Pages
