Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Markets & Finance

JMP Securities Suspends Rating on ADVO

From Standard & Poor's Equity Research

JMP Securities suspended its market perform rating on (ADVO) (AD), after news that Valassis Communications (VCI) is suing to rescind a $1.3 billion merger deal with ADVO based on fraud and material adverse changes.

The suit is alleging that ADVO management materially misrepresented the financial health of the company and failed to reveal internal control deficiencies.

Analyst Kevane Wong says ADVO claims that the charges are baseless and it intends to enforce the acquisition deal. Wong notes that although his research had not led him to believe there were issues of fraud at ADVO, he must acknowledge that Valassis Communications, which is likely to have been able to closely examine ADVO's operations as part of its acquisition process, has chosen to make these serious charges.

blog comments powered by Disqus