Dex Media Agrees to Acquire Cerberus’s YP in Yellow Pages Merger

Dex Media Inc. agreed to acquire YP Holdings LLC, controlled by Cerberus Capital Management, in a $600 million deal that combines two of the last remaining publishers of yellow pages directories.

Terms weren’t disclosed in a statement June 30, but a person with direct knowledge of the transaction said Dex, whose biggest stakeholders include Mudrick Capital Management, will give YP’s owners about $600 million in cash plus 3 percent of the combined company’s equity. The purchase will be financed using $550 million of add-on term loan and about $80 million drawn from an asset-based loan, said the person, who asked ...