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Thursday, November 05, 2009
JDA To Acquire I2 Technologies In $396 Mln Deal
By Simon Kennedy
MarketWatch Pulse
LONDON -- JDA Software Group Inc. said Thursday that it has agreed to acquire i2 Technologies Inc. for an enterprise value of around $396 million. JDA said it intends to raise around $275 million of senior unsecured notes by Dec. 18. If JDA raises sufficient funds and meets other conditions, then it will pay $12.70 a share in cash and 0.256 of its own shares for each i2 share. It said the combined value was equal to $18 a share at Wednesday's closing price. The offer is a 9% premium to i2's closing price of $16.51 on Wednesday. If it doesn't raise enough cash, then the deal will proceed via an alternative structure with the same overall value, but comprising $6 a share in cash and 0.580 JDA shares for every i2 share.
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