Equifax to buy Talx Corp. in $1.21 billion cash-and-stock deal

<p>Credit reporting agency Equifax Inc. has reached a cash and stock deal to buy Talx Corp., a provider of employment verification and related human resources and payroll services, for about $1.21 billion in cash and stock.</p><p>Equifax will pay 75 percent of the purchase price in stock and the rest in cash, the companies said in a joint statement Wednesday. For each Talx share, shareholders can choose to receive either 0.861 shares of Equifax stock, $35.50 in cash, or a combination of stock and cash.</p><p>In total, Equifax will issue about 22 million shares of Equifax stock and pay about $300 million in cash. Equifax will also assume Talx outstanding debt of about $191.5 million.</p><p>The acquisition is subject to certain regulatory approvals, approval by Talx shareholders and other closing conditions. The deal is expected to be complete in the second or early third quarter.</p><p>Based in St. Louis, Talx serves more than 9,000 clients in the U.S. It provides a wide spectrum of products and services including employment and income verification, pay reporting, hiring, and employment tax management services. Through its fiscal third quarter ended Dec. 31, Talx reported revenues of $197 million.</p><p>Atlanta-based Equifax is one of the largest sources of consumer and commercial data. It employs roughly 4,900 people in 14 countries throughout North America, Latin America and Europe.</p><p>Equifax said the deal will help it expand into new markets and acquire proprietary data sources.</p><p>Equifax shares rose 22 cents to close at $41.91 on the New York Stock Exchange.</p><p>Talx shares added 80 cents, or 2.4 percent, to $32.85 in aftermarket activity. Earlier, the shares fell 36 cents to close at $32.05 on the New York Stock Exchange. The stock has ranged from $17.86 to $34.75 over the past year.</p>