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Thursday, Apr 25, 2024

Loan Helps With FTD Purchase

United Online Inc. will receive a $60 million loan from a Silicon Valley bank to fund a portion of its acquisition of FTD Group Inc. The loan will result in Woodland Hills-based United Online having $40 million less in debt in connection with the deal and provide FTD stockholders with $85 million in cash. The buyout of the global floral delivery firm diversifies United Online, a consumer Internet and media services provider, and gives additional revenue streams from e-commerce and retailing. FTD shareholders will receive $14.38 per share of common stock from United Online.

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