WASHINGTON (dpa-AFX) - RedPrairie and JDA Software Group, Inc. (JDAS) announced that the financing proceeds condition of the previously announced cash tender offer by affiliates of RedPrairie to purchase all outstanding shares of JDA has been waived. In connection with this announcement, affiliates of RedPrairie have entered into definitive credit agreements relating to the financing of the proposed acquisition of JDA.
As previously announced, pursuant to the merger agreement among RP Crown Acquisition Sub, LLC and RP Crown Parent, LLC (affiliates of RedPrairie) and JDA, RP Crown Acquisition Sub, LLC commenced a tender offer on November 15, 2012 to acquire all of the outstanding shares of common stock of JDA for $45.00 per share, net to the seller in cash without interest and less any required withholding taxes.
The tender offer is scheduled to expire on December 20, 2012, unless further extended.
Prior to today's waiver, the tender offer was conditioned on the receipt of the proceeds of the debt financing commitments from the lenders. The transaction remains subject to other closing conditions as set forth in the Offer to Purchase filed with the U.S. Securities and Exchange Commission on November 15, 2012.
The transaction has already cleared the two regulatory requirements, receiving early termination of the waiting period for U.S. antitrust review as well as clearance from the German Federal Cartel Office.
In Early November, JDA Software had agreed to be acquired by privately held software maker RedPrairie for $45 per share in cash, or a total of about $1.94 billion.
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© 2012 AFX News
