24/7 Real Media (NASDAQ:TFSM)
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24/7 Real Media, Inc. (NASDAQ: TFSM), a leading global digital marketing
company, today announced that the waiting period required under the
Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended,
expired at 11:59 p.m., New York City time, on Wednesday, June 13, 2007,
without a request for additional information from the U.S. Federal Trade
Commission or the Antitrust Division of the U.S. Department of Justice,
with respect to the proposed acquisition of shares of 24/7 Real Media,
Inc. by WPP Group plc pursuant to the tender offer described below. The
expiration of the Hart-Scott-Rodino waiting period has satisfied one of
the conditions to the closing of the tender offer.
The tender offer is conditioned upon at least a majority of the
outstanding 24/7 Real Media shares, determined on a fully diluted basis
(calculated in accordance with the terms of the Merger Agreement, dated
as of May 17, 2007, entered into between 24/7 Real Media, Inc. and WPP
Group plc), being tendered, as well as the satisfaction of regulatory
and other customary conditions. Approval of the transaction by WPP
shareholders is not required.
As previously announced, a subsidiary of WPP has commenced a cash tender
offer to acquire all of 24/7 Real Media’s
outstanding shares of common stock for $11.75 per share net to the
sellers in cash without interest. Unless the tender offer is extended,
it and any withdrawal rights to which 24/7 Real Media’s
stockholders may be entitled will expire at 12:00 midnight, New York
City time, on Wednesday, June 27, 2007 (the end of the day on Wednesday).
About 24/7 Real Media, Inc.
24/7 Real Media, Inc. is a leading global digital marketing company,
empowering advertisers and publishers to engage their target audiences
with greater precision, transparency and ROI. Using its award winning ad
serving, targeting, tracking and analytics platform, powerful search
marketing capabilities and global network of specialized Web sites, the
company has turned the art of reaching audiences across virtually any
digital medium into a measurable science. The company is headquartered
in New York, with 20 offices in 12 countries throughout North America,
Europe and the Asia Pacific region. For more information, please visit www.247realmedia.com.
24/7 Real Media: The Science of Digital Marketing.
24/7 Real Media is a member of the NAI and adheres to the NAI privacy
principles that have been applauded by the FTC. These principles are
designed to help ensure Internet user privacy. For more information
about online data collection associated with ad serving, including
online preference marketing and an opportunity to opt-out of 24/7 Real
Media cookies, go to: www.networkadvertising.org.