HEADLINE:
STORY:
Blue Harbour Group, asignificant shareholder of The Reader's Digest Association (NYSE: RDA),today issued the following statement from its Chief Executive Officer,Clifton S. Robbins, commenting on Reader's Digest's agreement to beacquired for $17.00 per share in cash:
"Over the past year, Blue Harbour has been working with Reader'sDigest's Board and management, exploring ways to optimize value forshareholders. Blue Harbour believed that the Company's shares wereundervalued in the market and recommended that Readers Digest consider agoing-private transaction. We applaud Reader's Digest's Board on thetransaction announced today."
Blue Harbour Group, which has in excess of $1 billion in capital, wasformed in 2004 to pursue a private equity approach to public markets byacting as a lead minority investor, working cooperatively with managementsand boards to create and unlock shareholder value.......
Source: PR Newswire
Reporter: Victoria Weld (212) 521-4849
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