Phoenix Technologies (PTEC) Acquired By Marlin Equity Partners for $3.85/Share

August 18, 2010 6:50 AM EDT
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Phoenix Technologies Ltd. (Nasdaq: PTEC) announced an agreement to be acquired by Marlin Equity Partners for $3.85 per share in stock, or approximately $139 million in total consideration.

The price comes at a 27% premium over yesterday's close.

The transaction is subject to customary closing conditions, including the approval of Phoenix's stockholders. There is no financing condition to the transaction.

RBC Capital Markets Corporation is acting as financial advisor to the Board of Phoenix and Morgan, Lewis & Bockius LLP is acting as Phoenix's legal advisor. Pepper Hamilton LLP is acting as Marlin's legal advisor.

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