FTD Shareholders Approve United Online Merger

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Shareholders of floral retailer FTD Group Inc approved on Monday a more than $400 million merger of the Illinois-based floral retail network with internet service provider United Online Inc.

FTD, which links small floral shops around the country, has established a major Internet presence. It’s a particularly attractive new revenue source for Woodland Hills-based United Online, which provides Internet and e-mail access under the NetZero and Juno brands, and operates the Classmates.com networking site.

The merger, which was announced in April and revised last month, is expected to close Tuesday. FTD stockholders will receive $10.15 and 0.4087 shares of United Online stock for each FTD share.

FTD will become a wholly owned subsidiary of United Online. It will keep its U.S. headquarters in Downers Grove, Ill., and its international headquarters in the United Kingdom.

United Online shares closed down 10 cents, or 1 percent, to $10.80 in Monday trading on the Nasdaq.

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