Logility Comments on Proposed American Software Tender Offer
ATLANTA (March 27, 2009) – FirstCall via COMTEX/ —
LGTY | Quote | Chart | News | PowerRating — In response to the announcement on Wednesday, March 18, 2009, by American Software, Inc. (Nasdaq: AMSWA | Quote | Chart | News | PowerRating) that it plans to commence a cash tender offer for all outstanding Logility, Inc. (Nasdaq: LGTY | Quote | Chart | News | PowerRating) shares not already owned by American Software, Logility announced today that American Software’s offer will be considered by a special committee comprised solely of its independent directors (the “Special Committee”).
The Special Committee has retained Jones Day as its legal counsel and has appointed VRA Partners, LLC as its independent financial advisor, to assist the Special Committee in evaluating the proposed tender offer.
American Software’s proposal to commence a tender offer was not made pursuant to any agreement with Logility. If American Software does commence a tender offer, then the Special Committee will, within ten business days following such commencement, advise shareholders of its position regarding the offer and the reasons for such position. Logility shareholders are advised to take no action with respect to the proposed tender offer until they have been advised of the Special Committee’s position.
Source: Logility
