Close

ACI Worldwide (ACIW) Announces Preliminary Results of Exchange Offer to Acquire S1 Corp (SONE)

February 13, 2012 4:53 PM EST
ACI Worldwide, Inc. (Nasdaq: ACIW) announced the preliminary results of its exchange offer to acquire S1 Corporation (Nasdaq: SONE), which expired at 5:00 p.m., Eastern time, on February 10, 2012.

Based on the preliminary calculation performed by Wells Fargo, the exchange agent for the exchange offer, a total of 52,871,149 shares of S1 common stock were validly tendered, which includes 3,073,394 shares tendered through notice of guaranteed delivery, and not withdrawn, representing approximately 95.3% of S1's outstanding shares.

In accordance with the terms and conditions of the exchange offer, S1 shareholders had the right to elect to receive, for each share tendered, either $10.00 in cash or 0.3148 shares of ACI common stock, subject to proration, such that in the aggregate 33.8% of S1 shares will be exchanged for ACI common stock and 66.2% of S1 shares will be exchanged for cash.


Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Corporate News, Mergers and Acquisitions

Related Entities

Wells Fargo, ACI Worldwide/S1 Corporation