Open Text (OTEX) Acquires Vignette (VIGN) For $12.70/Share In Cash/Stock Deal
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Open Text Corporation (NASDAQ: OTEX) announced an agreement to acquire Vignette Corporation (NASDAQ: VIGN) for $8.00 in cash plus 0.1447 of an Open Text common share for every Vignette common share which equates to approximately US $12.70 at close of market on May 5, 2009.
This represents a premium of approximately 74% above the 30 trading day average closing price of Vignette's shares and approximately 41% above the most recent closing price. This values the transaction at approximately US $310 million.
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