CIMdata PLM Industry Summary Online Archive
31 March 2008
Acquisitions
Delisting of Telelogic; Postponed Annual General Meeting; No Interim Report
IBM’s public offer for Telelogic was declared unconditional on 27 March 2008. IBM now controls approximately 96.9 per cent of the shares in Telelogic and has announced that compulsory acquisition proceedings regarding the remaining shares will be initiated.
Upon request by IBM, the board of directors of Telelogic has issued a notice to an Extraordinary General Meeting to be held on 15 April 2008 for the purpose of electing a new board of directors, which is to be composed by IBM representatives. Upon request by IBM, the board of directors has also applied for a delisting of the Telelogic share from OMX Nordic Exchange Stockholm as soon as possible. As soon as the exchange has resolved on the delisting, it will announce when the trading will cease.
Furthermore, with reference to the above and upon request by IBM, the board has resolved to postpone the Annual General Meeting 2008 scheduled for Tuesday, 6 May 2008. A new date for the Annual General Meeting will be set by the new Telelogic board. Moreover, the board has resolved not to issue its interim report for the first quarter 2008 originally scheduled for 22 April 2008.
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