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M&A: American Software's takeover of Logility
American Software, Inc. has announced that it acquired Logility, Inc. pursuant to an agreement dated 6 July, 2009.
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American Software previously completed a tender offer, which expired on 29 June, 2009, for all the outstanding common stock of Logility not currently owned by American Software. After completion of the tender offer, American Software owned 12,804,866 shares, or 96.7% of the outstanding shares of Logility common stock.
Pursuant to the agreement, Logility was absorbed into a wholly-owned subsidiary of American Software, each of the issued and outstanding shares of common stock of Logility (except for shares held by American Software or shares for which appraisal rights are properly demanded in accordance with Georgia law) was converted into the right to receive USD7.02 per share, without interest, and the wholly-owned subsidiary amended its Articles of Incorporation to change its name to Logility, Inc.
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