BOSTON (Thomson Financial) - Insightful Corp. Thursday said it has agreed to
be acquired by TIBCO Software Inc. for about $25 million, including the value of
certain assumed options.
Under the terms of the deal, Insightful stockholders will receive $1.87 in
cash for each outstanding share of common stock they own. The price represents a
29% premium over the average closing price of Insightful's common stock over the
sixty trading day period ending on June 18.
Insightful said its board unanimously approved the agreement after
determining the outcome was in the best interests of its stockholders.
The transaction is expected to close in the third quarter.
Insightful shares closed Wednesday at $1.85.
Casey Logan
cl/vj
COPYRIGHT
Copyright Thomson Financial News Limited 2007. All rights reserved.
The copying, republication or redistribution of Thomson Financial News Content,
including by framing or similar means, is expressly prohibited without the prior
written consent of Thomson Financial News.
|