This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:Wolf Haldenstein Investigates i2 Technologies, Inc. Proposed Acquisition 2009-11-05 18:26 ET - News Release
NEW YORK -- (Business Wire)
Attorney Advertising. The law firm of Wolf Haldenstein Adler Freeman &
Herz LLP is investigating possible breaches of fiduciary duty by the
Board of Directors of i2 Technologies, Inc. (“i2” or the “Company”)
[NYSE:ITWO] arising out of the proposed acquisition of i2 by JDA
Software Group, Inc. (“JDA”).
On Thursday, November 5, 2009, i2 announced that it had agreed to be
acquired by JDA in a deal that may be structured in one of two ways.
Under the intended structure, JDA would raise $275 million in unsecured
financing that would put i2’s purchase price at about $18 a share, with
current i2 shareholders getting about $12.70 in cash and about a
quarter-share of JDA stock for each i2 share. If JDA cannot raise the
funds, an alternative structure would give i2 shareholders less cash and
more shares of JDA. The deal’s financial structure includes the
purchases of the shares for $434 million, along with an agreement to
retire about $121 million in debt. JDA would then get back about $160
million in i2’s cash on hand when the deal closes, putting the value of
the deal at $396 million. However, the Company may not have adequately
shopped itself around before entering into this transaction and,
pursuant to this transaction, JDA may be underpaying for i2, thus
unlawfully harming i2 shareholders.
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