Merger of IBM, ILOG clears waiting period hurdle

By Lisa Kerner

Charlotte, N.C., Aug. 18 - The Federal Trade Commission granted early termination of the Hart-Scott-Rodino waiting period in the proposed merger of International Business Machines Corp. and ILOG SA, a government statement said.

In July IBM announced it would acquire ILOG, a Paris software company, through a concurrent cash public tender offer in both France and the United States.

According to IBM, the cash tender offer will be at a price of €10 per ordinary share and the dollar equivalent per American Depositary Share, for a total purchase price of approximately €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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