CIMdata PLM Industry Summary Online Archive
11 February 2008
Financial News
IBM: Watchtower Extends the Acceptance Period in Relation to the Recommended Cash Offer to the Shareholders in Telelogic
This Offer is not being made nor will any tender of shares be accepted from or on behalf of holders in any jurisdiction in which the making of the Offer or the acceptance of any tender of shares therein would not be made in compliance with laws of such jurisdiction. The Offer is not being made, directly or indirectly, in or into Australia, Canada, Japan or South Africa. The Offer is being treated in the United States as one to which the “Tier II” exemption mentioned in Rule 14d-1(d) under the U.S. Securities Exchange Act of 1934 is applicable. The press release has been published in Swedish and English. In the event that there are any differences between the language versions, the Swedish version shall prevail.
International Business Machines Corporation (“IBM”), through its indirect wholly-owned subsidiary Watchtower AB (“Watchtower”) (previously Goldcup D 2933 AB), a Swedish private limited liability company, announced on June 11, 2007 a recommended public cash offer to the holders of all issued and outstanding shares in Telelogic AB (publ) (“Telelogic”), to tender all Telelogic shares to Watchtower (the “Offer”). The Offer has been unanimously recommended by the Board of Directors of Telelogic.
Watchtower has decided to extend the acceptance period until 17.00 (CET) on March 19, 2008. Provided that Watchtower announces that the conditions of the Offer have been satisfied or waived on March 27, 2008, settlement is expected to commence approximately one week thereafter.
The parties continue to work constructively with the European Commission to expedite competition clearance of the Offer. Watchtower is pleased to confirm that the Commission has not to-date issued a Statement of Objections in this matter, and therefore believes there is a good prospect of a clearance decision being adopted on or before the provisional clearance deadline of March 19, 2008.
All other terms and conditions set out in the offer document apply during the extended acceptance period.
The offer document in a Swedish and an English version and other information about the Offer is published on http://www.ibm.com/software/rational/welcome/telelogic on http://www.telelogic.com and on http://www.nordea.se/placera.
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