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News Breaks | | | | August 21, 2012 | | 07:03 EDT |  | DEXO, SPMD | SuperMedia CEO Peter McDonald to become CEO of combined company
Under the terms of the definitive merger agreement, Alan Schultz, chairman of the board of directors of Dex One (DEXO), will be chairman of the board of directors of the combined company. The president and CEO of SuperMedia (SPMD), Peter McDonald, will become CEO. Alfred Mockett, Dex One’s CEO, will continue to lead Dex One through the close of the transaction, at which point he will step down. The combined company will be called Dex Media. Under the terms of the agreement, Dex One and SuperMedia shareholders will exchange their shares for shares in Dex Media. Dex One shareholders will receive 0.20 shares for each Dex One share they own, and Super Media shareholders will receive 0.4386 shares for each SuperMedia share they own. The transaction is expected to close in the fourth quarter of 2012. | |
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