BEDFORD, Mass. (
( IDC) agreed to be acquired by private-equity groups Silver Lake and Warburg Pincus in a transaction valued at $3.4 billion.
Interactive Data, in a press release Tuesday, said
, which owns a 61% stake in the financial-market data provider, approved the transaction.
Pearson, publisher of the
, said earlier this year it was reviewing strategic alternatives for Interactive Data.
Under the agreement, Interactive Data's stockholders will receive $33.86 in cash for each share of Interactive Data common stock they own. This represents a premium of about 32.9% over the closing share price on Jan. 14, the last trading day before the company announced it was conducting a review of strategic alternatives, Interactive Data said.
Interactive Data shares closed Monday at $32.99.
The transaction is expected to be completed by the end of the third quarter.
-- Reported by Joseph Woelfel in New York.
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