Floral delivery business FTD Group to be sold
Published 5:00 am Thursday, May 1, 2008
CHICAGO — FTD Group, the online floral delivery business, is being acquired for $456 million by United Online, which owns social networking site Classmates.com and customer loyalty site MyPoints.com, the companies announced Wednesday. The deal, which is expected to close in the third quarter, values FTD at $15.08 a share — a 12 percent premium to FTD’s $13.50 closing price Tuesday. Shares of the online florist closed Wednesday a quarter higher, at $13.75. Woodland Hills, Calif.-based United Online’s stock fell 15 cents to $10.68.
— From wire reports