Elliott Commences Tender Offer of $9.50/Share for Epicor Software (EPIC)
Elliott Associates, L.P. today announced that it has commenced a cash tender offer for all outstanding shares of common stock of Epicor Software (Nasdaq: EPIC) in furtherance of Elliott's previously announced proposal to acquire the company. The complete terms, conditions and other details of Elliott's offer will be filed later today with the U.S. SEC.
Under the terms of the tender offer, Elliott is offering, through a wholly-owned subsidiary, to acquire Epicor for $9.50 per share in cash, or an aggregate of approximately $529 million. This offer represents a 39.7% premium to Epicor's close of $6.80 yesterday, a 20% premium to Epicor's close of $7.89 on September 30, 2008 and a 25% premium to the trailing 60-day closing price as of such date.
Epicor Software Corporation designs, develops, markets, and supports enterprise application software solutions and services.
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