Nuance (NUAN) Extends Offer to Acquire Zi Corporation (ZICA)
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Nuance Communications, Inc. (NASDAQ: NUAN) is extending its previously announced offer to purchase all of the outstanding common shares of Zi Corporation (NASDAQ: ZICA) for US$0.40 per share in cash to 5:00 p.m. (Calgary time) on March 10, 2009, unless further extended or withdrawn. The tender offer, which was previously scheduled to expire at 5:00 p.m. (Calgary time) on February 24, 2009, has been extended to provide Zi shareholders additional time to consider the merits of the offer.
Nuance's US$0.40 per share cash offer represents a 25 percent premium over the closing price of Zi common shares on NASDAQ on August 13, 2008, the last trading day prior to the public disclosure of Nuance's initial proposal to Zi's Board of Directors. The offer will be financed though Nuance's existing cash on hand. [SM]
Nuance's US$0.40 per share cash offer represents a 25 percent premium over the closing price of Zi common shares on NASDAQ on August 13, 2008, the last trading day prior to the public disclosure of Nuance's initial proposal to Zi's Board of Directors. The offer will be financed though Nuance's existing cash on hand. [SM]
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