Aladdin shareholders will receive $11.50 per share in cash for each share of common stock they hold. This represents a premium of approximately 64 per cent over Aladdin's closing share price on January 5, 2009, the last trading day prior to the announcement.
The transaction is subject to certain closing conditions, including the approval of Aladdin's shareholders, antitrust regulatory approvals, and the satisfaction of other customary closing conditions. The transaction is expected to close following the satisfaction of all closing conditions, which is anticipated to occur in the next two to three months.
Yanki Margalit, chairman and CEO of Aladdin, said: “After extensive negotiations and careful and thorough analysis, conducted with our independent advisors, the board has unanimously endorsed this transaction as in the best interests of the company and our shareholders.”
David Fishman, partner of Vector Capital, said: “We are very excited about adding Aladdin to our portfolio of outstanding technology companies and believe that placing Aladdin's DRM and Authentication assets under common management with those of SafeNet Inc. makes considerable strategic sense and will greatly benefit all stakeholders.”
See original article on scmagazineuk.com
