IntelliQuest Information Group Announces Stockholder Approval of WPP Group Merger and Final Merger Consideration

Business Wire, Dec 20, 1999

Business Editors & High-Tech Writers

AUSTIN, Texas--(BUSINESS WIRE)--Dec. 20, 1999

IntelliQuest Information Group Inc. (Nasdaq:IQST) announced that its stockholders approved the merger of IntelliQuest with a subsidiary of WPP Group U.S. Finance Corp. at a special meeting of stockholders convened earlier today.

IntelliQuest also announced the final merger consideration expected to be received by stockholders of IntelliQuest in the all cash acquisition of IntelliQuest by WPP Group.

IntelliQuest stockholders will receive $12.70 in cash for each share of IntelliQuest common stock they hold.

The parties expect to complete the transaction on Dec. 21 or as soon as practicable thereafter.

In addition, IntelliQuest announced that it and WPP Group have reached an agreement to dismiss the purported class action lawsuit filed by a holder of IntelliQuest common stock on Nov. 4, 1999, on the grounds that it is moot. IntelliQuest will notify all stockholders of record of the terms of the proposed dismissal on or before Dec. 24, 1999.

If there are no objections to the proposed dismissal from stockholders by Jan. 24, 2000, which are deemed to have merit by the Delaware Chancery Court, the Court will enter a final order dismissing the complaint on the grounds that it is moot and dismissing plaintiff's claim for attorneys fees and expenses with prejudice.