Hellman & Friedman - JMI Equity / DoubleClick

DoubleClick Inc. said Tuesday that shareholders approved by large margins a $1.1 billion buyout led by a private-equity group.

In a Securities and Exchange Commission filing, Internet-advertising company DoubleClick said 90 percent of investors at its annual meeting voted in favor of the acquisition by San Francisco-based Hellman & Friedman LLC and JMI Equity, which is based in Baltimore and San Diego.

The shares cast in favor of the deal represented 58 percent of the total number of DoubleClick's outstanding shares entitled to vote at the meeting, the company said.

Under terms of the deal announced in April, DoubleClick stockholders will receive $8.50 for each share they hold. DoubleClick said in the filing Tuesday that the acquisition is expected to close "as soon as practicable," pending the satisfaction or waiver of some closing conditions.

Shares of New York-based DoubleClick rose 2 cents to close at $8.45 Tuesday on the Nasdaq Stock Market. After peaking at $135.25 in early 2000, DoubleClick's shares have been stuck in a prolong slump that reflects the company's troubles since the dot-com bust.

(c) AP


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