ValueAct Capital Offers to Acquire Catalina Marketing (POS) for $32 Per Share

In an amended 13D filing on Catalina Marketing (NYSE: POS) 15.5% holder ValueAct Capital disclosed that on February 20, 2007, they sent a letter to the Board of Directors of the Issuer, expressing an interest in acquiring at a price of $32.00 per share all of the outstanding shares of the company not already owned.

The letter stated that ValueAct Capital is prepared to commence negotiations on a definitive agreement immediately, with a view of executing such an agreement within one week.

They intend to finance the transaction with a combination of an additional equity investment from ValueAct Capital and third-party debt financing to be underwritten by one or more investment banks.