Open Text To Buy Vignette For $12.70 A Share - Eric Savitz (Barron's)

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Open Text To Buy Vignette For $12.70 A Share
May 06, 2009 03:32 PM UTC

Eric Savitz (Barron's)

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Symbol	Sentiment	Start	Return	Closed
OTEX	n/a
VIGN	n/a

Via BARRONS.com: Tech Trader Daily - Barron's Online:

Open Text (OTEX) this morning announced that it has agreed to acquire Web-software provider Vignette (VIGN) for $12.70 a share, consisting of $8 in cash and 0.1447 of an Open Text common share. The total value of the transaction is about $310 million. Austin, Texas-based Vignette has about 700 employees. The deal is expected to close in the second half.

OTEX today is down $1.22, or 3.8%, to $31.28. VIGN is up $3.19, or 35.4%, to $12.21.

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