It was to be a short engagement followed by an autumn wedding and a future of happily ever after. However, little more than two months since direct mail media company ADVO, Inc. , Windsor, CT, and marketing services giant Valassis Communications, Inc., Livonia, MI, signed a merger agreement, Valassis wants to call the whole thing off while ADVO refuses to return the ring.

On July 6, Valassis announced its intent to acquire outstanding shares of ADVO for $37 apiece. The merger, which received expedited regulatory approval on Aug. 16, is valued at $1.3 billion, including $125 million in ADVO debt that Valassis plans to refinance. The deal would create a diversified media services company with 7,900 employees in nine countries and serve 20,000 advertisers with direct mail, newspaper inserts, coupon fliers, e-mail marketing and other programs.

On Aug. 30, Valassis sued ADVO in Delaware Chancery Court to rescind the deal, alleging fraud.