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IBM owns 96.83% of voting rights, share capital of ILOG following tender offer
By Lisa Kerner
Charlotte, N.C., Dec. 18 - International Business Machines Corp. said a total of 20,578,810 ordinary shares, including ordinary shares represented by American Depositary Shares, were tendered in its offer for ILOG SA.
The subsequent offering period ended Dec. 15.
As a result of the offer, IBM will hold 96.83% of the voting rights and share capital of ILOG, a company news release said.
Settlement of the tender offers and payment of the cash consideration will occur on Dec. 24.
Final results of the offer were published by the French Autorité des marchés financiers.
IBM requested a "squeeze-out" of the ordinary shares held by minority shareholders because the securities not tendered in the offer represent less than 5% of the voting rights and share capital.
The Autorité des marchés financiers will announce the date of the implementation of the squeeze-out on Dec. 19, the release said.
ILOG's ordinary shares will be delisted from Euronext and the ADSs will no longer be quoted on the Nasdaq Global Select Market upon the implementation of the squeeze-out.
In July, IBM announced it would acquire ILOG, a Paris software company, for €215 million, or about $340 million, on a fully diluted basis.
IBM, based in Armonk, N.Y., develops computer systems, software, storage systems and microelectronics.
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