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Thursday, September 11, 2014

Alliance Data to purchase Conversant for $2.3 bln, (NYSE: ADS)

Credit card processor Alliance Data Systems Corp said it will purchase digital marketing company Conversant Inc for about $2.3 billion in cash and stock. Alliance Data will acquire Conversant for $35 per share. The deal is expected to close by year end.

Alliance Data Systems Corporation is a provider of transaction-based, data-driven marketing and loyalty solutions serving consumer-based businesses in a variety of industries. Shares of ADS fell by 2.44% or $-6.33/share to $252.88. In the past year, the shares have traded as low as $203.62 and as high as $300.49. On average, 529469 shares of ADS exchange hands on a given day and today's volume is recorded at 871068.