Valassis Communications Inc. (VCI) is a Michigan based media and advertising company specializing in direct marketing services. On December 18, 2013, the company received a $34.04 cash tender offer from Harland Clarke Holdings Corp., a private marketing and integrated payment solutions provider located in San Antonio, Texas. The deal closed in early February after receiving the necessary minimum condition and regulatory approvals. The Fund earned a 4.18% return.
From Mario Gabelli (Trades, Portfolio)'s first quarter 2014 ABC Fund commentary.
