Hoover's Gets Another Bid

Feb 11, 2003


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Hoover's, Inc. has received a letter from Austin Ventures and Marathon Partners, L.P. proposing to acquire up to all of the outstanding shares of Hoover's for $8.00 per share in cash (approximately $130 million). That tops the earlier $7 bid from D&B for Hoover's. Marathon Partners currently owns an 8.8% share of Hoover's and had previously protested that the D&B bid was too low.  D&B will now decide whether to match or exceed the new bid, or accept defeat. Hoover's board of directors will be considering the letter from Marathon Partners and Austin Ventures in accordance with the terms of the merger agreement between Hoover's and D&B.

(http://www.austinventures.com), (http://www.hoovers.com), (http://www.marathonpartners.com)