i2 Technologies founder sells 417,116 shares, keeps 16.8% ownership

By Lisa Kerner

Charlotte, N.C., Dec. 9 - i2 Technologies, Inc. founder Sanjiv S. Sidhu sold 417,116 shares of the company's stock between Nov. 16 and Dec. 4, according to a schedule 13D/A filed on Wednesday with the Securities and Exchange Commission.

The shares were priced from $18.40 to $18.70 each.

On Nov. 11 and Nov. 12, Sidhu sold 275,856 shares and kept an 18.5% stake, a prior SEC filing said.

Sidhu beneficially owns 3,832,991 shares, or 16.8%, of the Dallas-based supply chain management solutions company.

On Nov. 5, JDA Software Group, Inc. announced an agreement to acquire i2 Technologies under one of two financing plans.

Under the first plan, JDA would issue approximately $275 million of senior unsecured notes by Dec. 18. Each share of i2 common stock would then be converted into the right to receive approximately $12.70 in cash and 0.256 shares of JDA common stock for a total value of $18.00.

However, if JDA fails to raise sufficient funds, i2 shareholders, under an alternative structure, would receive about $6.00 in cash and 0.580 shares of JDA common stock for a total value of $18.00 per share.

JDA priced a $275 million issue of 8% five-year senior notes on Monday.

Both companies' boards of directors have approved the transaction, which is expected to close in the first quarter of 2010, said JDA.

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