American Software increases offer price to acquire remaining 12% stake in Logility

Update on May 15, 2009:

American Software, Inc., a developer and marketer of supply chain and enterprise software, has increased its offer price to acquire the remaining 12% stake in Logility, Inc. from $5.10 per share in cash to $7.02 per share in cash.

Logility is a provider of supply chain management solutions. Both the companies are based in the US.

The $7.02 offer price represents a premium of 40.4% when compared to the closing price on March 18, 2009 and a 37.6% premium over American Software's original proposal of $5.10.

Announcement (March 18, 2009):

American Software is planning to acquire the remaining 12% stake in Logility at a price of $5.10 per share in cash.

The offer price represents a premium of 2% when compared to the March 18, 2009 closing price of $5 per share. The tender offer is expected to commence on or about April 10, 2009 and expire on or about April 30, 2009, unless extended.

American Software currently owns approximately 88% of the outstanding common stock of Logility.

Deal Value (US$ Million) 10.85
Deal Type                Acquisition
Sub-Category             Minority Acquisition
Deal Status              Announced: 2009-03-18

Deal Participants

Target (Company)   Logility, Inc.
Acquirer (Company) American Software, Inc.

Bid Premium ($ per share) 40.4
% Acquisition             12%

Related terms: acquisition