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Shares of Inuvo
INUV are seeing some pressure during Monday's trading session after Vertro
VTRO and Inuvo updated shareholders on merger details.
Each company's stockholders of record at the close of business on Friday, January 27, 2012 will receive notice of, and will be entitled to vote at, their respective special meeting.
Under terms of the merger agreement, which was unanimously approved by the Board of Directors of each company, at closing of the transaction, Vertro will become a wholly-owned subsidiary of Inuvo in a tax-free exchange of shares at the exchange ratio of 1.546 shares of Inuvo common stock per each share of Vertro common stock.
Shares of Inuvo are trading down about 7% at 1.06.
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