American Software increases offer for Logility to $7.02 per share

By Lisa Kerner

Charlotte, N.C., May 15 - American Software, Inc. upped its offer for all of the outstanding common stock of Logility, Inc. by 37.6% to $7.02 per share from $5.10.

Logility's special committee will recommend the revised offer to its shareholders, American Software said.

American Software, which currently owns approximately 88% of the outstanding common stock of Logility, said it expects to begin the tender offer as "soon as reasonably practicable."

As previously reported, American Software announced plans to acquire Logility in March and expected to begin a tender offer in April for the company.

Logility is a supply chain management solutions provider.

American Software develops, markets and supports integrated business applications, including supply chain management, internet commerce, financial, warehouse management and manufacturing packages.

Both companies are located in Atlanta.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.