MONTREAL, Aug. 7 /CNW Telbec/ - The Board of Directors of Nurun Inc.
acknowledges that Quebecor Media Inc. does not intend to proceed with its
previously announced cash offer of $4.55 per share for all of the
approximately 42.2% of the common shares of Nurun Inc. not currently owned by
Quebecor Media Inc. While the Quebecor Media Inc. offer price was below the
fair value range which the Independent Committee of the Board believed would
likely be established by its financial adviser, CIBC World Markets, the Board
nevertheless would have preferred that shareholders of Nurun Inc. have the
opportunity to make individual decisions which would have been provided by the
Quebecor Media Inc. offer.
The valuation process triggered by the Quebecor Media Inc. offer focused
the attention of the Independent Committee and the Board on Nurun's business
plan and outlook, leading the Board to express its full confidence in the
management of the company and its future prospects. The Board and the
management of Nurun Inc. take this opportunity to assure all shareholders of
their continuing commitment to realize Nurun's full potential for the benefit
of all shareholders.
ABOUT NURUN INC.
Nurun Inc. (TSX:NUR), a subsidiary of Quebecor Media Inc., is a global
company which strategizes, executes, and measures interactive programs that
use new technologies. From building awareness to acquiring and retaining
customers, Nurun's solutions provide exceptional user experiences that enable
e-commerce transactions while leveraging the lifetime value of client
Since it was founded in 1985, Nurun has worked with a wide variety of
companies and organizations, including Groupe DANONE, Cingular Wireless, Louis
Vuitton, Thales, Pfizer, SkyTeam, Home Depot, Pleasant Holidays, L'Oreal,
Microsoft (MSN), Renault, Autotrader.com, Equifax, Telecom Italia and the
Government of Quebec. Nurun's centers of expertise employ more than 760
professionals in Canada, the U.S., Europe and China. For more information,
please visit www.nurun.com.
For further information:
For further information: Jacques-Hervé Roubert, (514) 392-1292