Great Universal Takes Over Direct Marketing Company
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ORANGE — Great Universal Stores PLC said Monday that it completed its $845-million tender for Metromail Corp. and will fold the Illinois-based direct-mail company into its Experian information services.
The deal is not expected to affect employment at Experian’s headquarters in Orange.
Experian officials said the Metromail purchase is a means of amplifying the company’s already sizable presence in the direct marketing business.
The companies are “complementary, not competitive, businesses” with different customers, products and markets, said D. Van Skilling, Experian’s chairman and chief executive.
Experian provides direct marketing services to the financial services, automotive and catalog industries while Metromail is strong in the packaged goods, retailing, telecommunications and energy markets.
British retailing and financial services giant Great Universal said about 12.4 million Metromail shares, 53.7% of the outstanding common stock, were tendered under the $34.50-a-share offer that expired Friday.
Combined with other Metromail shares bought from R.R. Donnelley & Sons Co., Great Universal said it now beneficially owns about 91% of Metromail’s shares.
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