IBM Announces Provisional Results of Tender Offers for ILOG
ARMONK, NY .- IBM (NYSE: IBM) today announced that the French Autorité des marchés financiers (AMF) published the provisional results of IBM’s tender offers in France and the United States for ILOG (NASDAQ: ILOG) (PARIS: ILO). These results indicate that, as of the expiration of the tender offers on November 24, 2008, 19,664,945 ordinary shares had been tendered into the tender offers (including ordinary shares represented by ADSs). In addition, 32,000 warrants (no 1) issued by ILOG in 2003, 16,000 warrants (no 2) issued by ILOG in 2003, 46,000 warrants issued by ILOG in 2004, 48,000 warrants
These results indicate that 19,664,945 ordinary shares representing 95.37% of the voting rights and the share capital of ILOG, on an issued and outstanding basis as of November 24, 2008, have been tendered into the tender offers. On a fully diluted basis, securities representing 87.26% of the voting rights and the share capital of ILOG have been tendered. Therefore, the minimum tender condition has been satisfied and IBM’s tender offers were successful.
IBM expects that the AMF will announce the final results of the tender offers on December 1, 2008. IBM expects that the settlement of the tender offers and the payment of the cash consideration in respect of the tendered ordinary shares will occur on December 5, 2008.
Assuming the final results confirm these provisional results, the tender offers will be reopened for a subsequent offering period of ten French trading days. IBM expects to publish the timetable for the subsequent offering period for both tender offers on December 1, 2008, after the timetable for the subsequent offering period in France has been set by the AMF.
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