On Hummingbird's takeover tussle
CommentOpen Text Corporation initially announced its intention on 5th July 2006 to make a counter bid for all of the shares of Hummingbird Ltd. at a price of US$27.75 per share in cash following the announcement on 26 May 2006 that Hummingbird would be acquired by a company within the Symphony Technology Group. Open Text offered $1.00 per share more than Symphony Technology Group. Since then, on 21st July, it has had to increase the cash offer by 10 cents (to $27.85) per share to get Hummingbird to the negotiating table.
02 Aug 07:02 |