Valassis Inserts Inc

Marketing company Valassis Communications Inc. filed a lawsuit to terminate its $1.3-billion merger agreement with Advo Inc., the nation's largest direct-mail marketer. Valassis, based in the Detroit suburb of Livonia, said its action in Delaware Chancery Court was based on allegations that Advo management misrepresented the financial health of the company and failed to reveal internal control deficiencies. Windsor, Conn.

Valassis Communications Inc. said it would buy fellow direct marketer ADVO Inc. for $1.08 billion, an 11% discount to the original price in a deal ending a four-month legal battle. Valassis, a newspaper insert distributor based in Livonia, Mich., will pay $33 a share in cash for ADVO, below the $37 a share it originally agreed to pay. The deal is valued at $1.2 billion.

The Net's Best LLC, the Irvine-based producer of biweekly color Sunday newspaper circulars for e-commerce companies, has been acquired by Valassis Communications Inc. in Livonia, Mich. Terms of the deal were not announced. Net's Best will close its Irvine offices and move its six employees to Valassis' office in Seal Beach, Net's Best Chief Executive Bill Weimer. Valassis publishes discount coupons and free-standing inserts.

Marketing company Valassis Communications Inc. filed a lawsuit to terminate its $1.3-billion merger agreement with Advo Inc., the nation's largest direct-mail marketer. Valassis, based in the Detroit suburb of Livonia, said its action in Delaware Chancery Court was based on allegations that Advo management misrepresented the financial health of the company and failed to reveal internal control deficiencies. Windsor, Conn.

Valassis Communications Inc. said it would buy fellow direct marketer ADVO Inc. for $1.08 billion, an 11% discount to the original price in a deal ending a four-month legal battle. Valassis, a newspaper insert distributor based in Livonia, Mich., will pay $33 a share in cash for ADVO, below the $37 a share it originally agreed to pay. The deal is valued at $1.2 billion.

The Net's Best LLC, the Irvine-based producer of biweekly color Sunday newspaper circulars for e-commerce companies, has been acquired by Valassis Communications Inc. in Livonia, Mich. Terms of the deal were not announced. Net's Best will close its Irvine offices and move its six employees to Valassis' office in Seal Beach, Net's Best Chief Executive Bill Weimer. Valassis publishes discount coupons and free-standing inserts.