JDA Software (JDAS) To Acquire i2 Technologies (ITWO) In Deal Worth $18/Share
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JDA Software Group, Inc. (NASDAQ: JDAS) agreed to acquire i2 Technologies, Inc. (NASDAQ: ITWO) for an enterprise value of approximately $396 million.
As provided in the definitive merger agreement, JDA intends to raise approximately $275 million of senior unsecured notes through a best-efforts financing between the signing date and December 18, 2009. If JDA raises sufficient funds and satisfies other conditions in the definitive merger agreement by December 18, 2009, each issued and outstanding share of i2 common stock will be converted into the right to receive approximately $12.70 in cash and 0.256x shares of JDA common stock with a combined value equal to $18.00 per share based on JDA’s closing stock price on November 4, 2009.
ITWO closed at $16.51 yesterday.
As provided in the definitive merger agreement, JDA intends to raise approximately $275 million of senior unsecured notes through a best-efforts financing between the signing date and December 18, 2009. If JDA raises sufficient funds and satisfies other conditions in the definitive merger agreement by December 18, 2009, each issued and outstanding share of i2 common stock will be converted into the right to receive approximately $12.70 in cash and 0.256x shares of JDA common stock with a combined value equal to $18.00 per share based on JDA’s closing stock price on November 4, 2009.
ITWO closed at $16.51 yesterday.
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