LITTLE ROCK (AP) – Acxiom Corp. announced Monday that a $2.25 billion buyout plan that would have taken the data company private has fallen through.
The company announced in May it agreed to a buyout by Silver Lake and Value Act Capital. Acxiom said the private equity funds would pay Acxiom $65 million in cash to terminate the agreement.
Acxiom chairman and chief executive Charles Morgan said the company will continue to operate as publicly-traded firm.
“While I am disappointed that we could not conclude the merger, we have renewed energy and remain focused and committed to delivering value for our shareholders and clients,” Morgan said in a news release.