Mergers & Acquisitions

i2 Stockholders Approve Merger with JDA Software Group, Inc.

  2008 NOV 24 - (VerticalNews.com) -- i2 Technologies, Inc. (NASDAQ: ITWO) announced that its stockholders voted to approve the company's proposed merger with JDA Software Group, Inc. (NASDAQ: JDAS) at a special meeting of stockholders here today. The number of shares voted in favor of the merger represented more than 80 percent of the total shares outstanding and entitled to vote at the meeting. More than 99 percent of the shares voted at the special meeting were cast in favor of the merger.

  Following the stockholder meeting, i2 received a written proposal from JDA to amend the common share consideration in the merger agreement significantly below $14.86 per share. The i2 board of directors has reviewed JDA's proposal and concluded that it is not in the best interest of i2's stockholders to pursue it.

  With the successful stockholder vote today, i2 has completed all of its conditions to closing the existing merger agreement and expects that JDA will fulfill its obligations under the agreement. Despite the approval by i2's stockholders, there can be no assurance that the parties will be able to close the transaction stipulated by the merger agreement.

  Keywords: i2 Technologies, Inc.

  This article was prepared by VerticalNews Mergers & Acquisitions editors from staff and other reports. Copyright 2008, VerticalNews Mergers & Acquisitions via VerticalNews.com.