Valassis and ADVO in Settlement Discussions
18 Diciembre 2006 - 9:01AM
PR Newswire (US)
Trial has been recessed for a day pending the outcome of
discussions LIVONIA, Mich., and WINDSOR, Conn., Dec. 18
/PRNewswire-FirstCall/ -- Valassis (NYSE:VCI) and ADVO, Inc.
(NYSE:AD) announced today that they are in discussions to settle
the ongoing litigation between the companies. The trial in the
Court of Chancery for New Castle County, Delaware, has been
recessed for a day pending the outcome of these discussions. There
can be no assurance that any settlement will result. About Valassis
Valassis offers a wide range of marketing services to consumer
packaged goods manufacturers, retailers, technology companies and
other customers with operations in the United States, Europe,
Mexico and Canada. Valassis' products and services portfolio
includes: newspaper-delivered promotions and advertisements such as
inserts, sampling, polybags and on-page advertisements;
direct-to-door advertising and sampling; direct mail;
Internet-delivered marketing; loyalty marketing software; coupon
and promotion clearing; and promotion planning and analytic
services. Valassis has been listed as one of FORTUNE magazine's
"Best Companies to Work For" for nine consecutive years. Valassis
subsidiaries include Valassis Canada, Promotion Watch, Valassis
Relationship Marketing Systems, LLC and NCH Marketing Services,
Inc. For additional information, visit the company Web site at
http://www.valassis.com/ . SAFE HARBOR AND FORWARD-LOOKING
STATEMENTS Certain statements found in this document constitute
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. Such forward-looking
statements involve known and unknown risks and uncertainties and
other factors which may cause the actual results, performance or
achievements of Valassis to be materially different from any future
results, performance or achievements expressed or implied by such
forward-looking statements. Such factors include, among others, the
following: price competition from Valassis' existing competitors;
new competitors in any of Valassis' businesses; a shift in customer
preference for different promotional materials, strategies or
coupon delivery methods; an unforeseen increase in Valassis' paper
costs; economic disruptions caused by terrorist activity, armed
conflict or changes in general economic conditions; changes which
affect the businesses of Valassis customers and lead to reduced
sales promotion spending; the ability and timing for the closing
conditions to be satisfied in connection with Valassis' merger
agreement with ADVO; and the ability for Valassis to achieve
synergies in connection with the merger and the integration of ADVO
successfully into its business. Valassis disclaims any intention or
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise.
About ADVO ADVO is the nation's leading direct mail media company,
with annual revenues of nearly $1.4 billion. Serving 17,000
national, regional and local retailers, the company reaches 114
million households, more than 90% of the nation's homes, with its
ShopWise(R) shared mail advertising. The company's industry-leading
targeting technology, coupled with its unparalleled logistics
capabilities, enable retailers seeking superior return on
investment to target, version and deliver their print advertising
directly to consumers most likely to respond. Demonstrating ADVO's
effectiveness as a print medium, the company's "Have You Seen Me?
(R)" missing child card, distributed with each ShopWise(R) package,
is the most recognized mail in America. This signature public
service program has been responsible for safely recovering 143
children. The program was created in partnership with the National
Center for Missing & Exploited Children and the U.S. Postal
Service in 1985. ADVO employs 3,700 people at its 24 mail
processing facilities, 33 sales offices and headquarters in
Windsor, CT. The company can be visited online at
http://www.advo.com/ . SAFE HARBOR AND FORWARD LOOKING STATEMENTS
This press release may contain certain statements regarding ADVO's
business outlook, prospects, future economic performance,
anticipated profitability, revenues, expenses or other financial
items, future contracts, market opportunities and other statements
that are not historical facts, such statements are "forward looking
statements" within the meaning of Section 27A of the Securities Act
of 1933 and Section 21E of the Securities Exchange Act of 1934,
each as amended. Such forward looking statements are based on
current information and expectations and are subject to risks and
uncertainties which could cause ADVO's actual results to differ
materially from those in the forward looking statements. ADVO's
business is promotional in nature, and ADVO serves its clients on a
"just in time" basis. As a result, fluctuations in the amount,
timing, pages, weight, and kinds of advertising pieces can vary
significantly from period to period, depending on its customers'
promotional needs, inventories, and other factors. In any
particular period these transactional fluctuations are difficult to
predict, and can materially affect ADVO's revenue and profit
results. ADVO's business contains additional risks and
uncertainties which include, but are not limited to: general
changes in customer demand and pricing; the possibility of
consolidation in the retail sector; the impact of economic or
political conditions on advertising spending and ADVO's
distribution system; postal and paper prices; possible governmental
regulation or legislation affecting aspects of ADVO's business; the
efficiencies achieved with technology upgrades; fluctuations in
interest rates; the ability and timing for the closing conditions
to be satisfied in connection with ADVO's merger agreement with
Valassis and other general economic factors. DATASOURCE: Valassis
CONTACT: Investors, Sherry Lauderback of Valassis Investor
Relations, +1-734-591-7374, , or Mary Broaddus of Valassis Investor
Relations, +1-734-591-7375, , or Media, Andy Hopson of Ruder Finn
for Valassis, +1-312-329-3916, , or Investors, Chris Hutter,
National Vice President, Finance of ADVO, Inc., +1-860-285-6424, or
Joele Frank or Eric Brielmann of Joele Frank, Wilkinson Brimmer
Katcher for ADVO, +1-212-355-4449, or Media, Pam Kueber, Vice
President, Corporate Communications of ADVO, Inc., +1-860-298-5797
Web site: http://www.valassis.com/ http://www.advo.com/
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