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Home / Knowledge / News / Information Technology / American Software completes tender offer for Logility
American Software completes tender offer for Logility
01
Jul '09
American Software Inc announced that it successfully completed its tender offer to acquire all of the outstanding common stock of Logility Inc not currently owned by American Software. The offer expired at Midnight New York City time, on Monday, June 29, 2009. A total of approximately 1,134,570 shares of Logility common stock were tendered.

The tender offer was subject to a condition that a majority of the shares not owned by American Software, its officers and directors, and the officers and directors of Logility, other than the independent Logility directors on the special committee formed to consider the offer, be tendered pursuant to the offer. The number of shares tendered by such non-affiliates satisfies this condition.

Together with the approximately 88% equity interest it already beneficially owns, as a result of the tender offer American Software will own approximately 12,808,570 shares or 96.7% of the outstanding shares. Shareholders who have tendered their shares will receive $7.02 per share promptly following the guaranteed delivery period.

As previously announced in connection with the tender offer, American Software will promptly cause Logility to consummate a short-form merger under Georgia law in which Logility will become a wholly-owned subsidiary of American Software. Pursuant to the merger, all shares held by Logility's remaining shareholders will be converted into the right to $7.02 per share, without interest.

American Software Inc


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