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Red Ventures to acquire Bankrate for $1.24 bln

July 3 (Reuters) - Bankrate, an operator of websites comparing personal finance packages, said it would be acquired by marketing company Red Ventures for $1.24 billion.

Bankrate shareholders will receive $14 per share, representing a 9 percent premium to the stock's Friday closing.

The deal has an enterprise value of $1.4 billion. (Reporting By Aparajita Saxena in Bengaluru; Editing by Saumyadeb Chakrabarty)