Total Transaction Value of Approximately $475 Million
DALLAS, July 12 /PRNewswire-FirstCall/ -- SOURCECORP, Incorporated
(Nasdaq: SRCP), a leading provider of business process outsourcing (BPO)
and consulting solutions, today announced that it has completed its
previously announced acquisition by CorpSource Holdings, LLC, an affiliate
of Apollo Management, L.P., in a transaction valued at approximately $475
million.
Mr. Ed H. Bowman, Jr., President and CEO, commented, "We are excited to
complete this step in the company's evolution and we look forward to
working with Apollo to grow the company into the future."
Under the transaction, SOURCECORP's common stock is being acquired at
$25 per share. The closing price of SOURCECORP's common stock was $21.13 on
October 5, 2005, which was the day before SOURCECORP originally announced
its intentions to pursue strategic alternatives. As a result of this
transaction, SOURCECORP will become a privately owned company and as of the
close of business today its stock will no longer be publicly traded. This
acquisition was first announced on March 8, 2006, and on June 1, 2006 the
company's stockholders voted to approve the transaction.
About SOURCECORP(R)
SOURCECORP, Incorporated provides business process outsourcing
solutions
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SOURCE SOURCECORP
Related links:
http://www.sourcecorp.com
CONTACT:
Steven Anreder of Apollo Management, L.P.,
+1-212-532-3232; or Barry Edwards, EVP & Chief Financial Officer
of SOURCECORP, +1-214-740-6690
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