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CARY, N.C. (AFX) - R.H. Donnelley Corp., one of the largest Yellow Pages publishers in the U.S., said Thursday it agreed to buy $53.1 million in outstanding warrants exercisable for about 1.7 million shares of common stock.
The transaction values the stock at $60 per share.
The company said the warrants had an average strike price of $27.80 and that the last of them would expire in January 2008. Investment partnerships affiliated with Goldman Sachs Group Inc. held the warrants, originally issued in connection with the Sprint Publishing and Advertising acquisition in January 2003.
Shares of R.H. Donnelley fell 51 cents to $61.52 in afternoon trading on the New York Stock Exchange. Copyright 2006 Associated Press. All rights reserved. This material may not be
Copyright 2006 AFX News Limited. All Rights Reserved.
