Jasmine ups stake in Aladdin Knowledge to 12.63%

By Lisa Kerner

Charlotte, N.C., Sept. 2 - A group of Aladdin Knowledge Systems Ltd. investors led by Jasmine Holdco LLC reported the purchase of 1,753,400 shares between July 18 and Sept. 2 at prices from $8.82 to $12.64 per share in a schedule 13D filed with the Securities and Exchange Commission.

The investors beneficially own approximately 1.75 million shares, or 12.63%, of the Petach Tikva, Israel-based company.

Last week Aladdin's board rejected Jasmine's proposal to acquire the company for $13.00 per share in cash in the belief that the offer significantly undervalues the company.

The board also determined that Jasmine's alternative proposal to buy Aladdin's digital rights management business for $125 million to $135 million was not in the best interest of Aladdin shareholders, it was previously reported.

As a result, Jasmine asked Aladdin to call an extraordinary general meeting of shareholders to vote on Jasmine's slate of nominees for election to Aladdin's board.

Aladdin provides security solutions that reduce software theft, authenticate network users and protect against spam and viruses.

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