some movement !! is it possible?By Ottawa Business Journal Staff
Thu, Jul 6, 2006 8:00 AM EST
Software maker Open Text of Waterloo is bidding for rival Hummingbird, with a takeover bid that trumps an earlier offer from Symphony Technology Group.
Open Text is offering US$27.75 a share in cash for Hummingbird, a dollar a share more than Symphony, and a 20-per-cent premium over the closing price of Hummingbird shares on the day prior to the agreement with Symphony.
"Hummingbird is a strong strategic fit that adds to our solutions focus and increases the reach of our Global Partner Program. Open Text believes that its offer is at an attractive premium and price to Hummingbird shareholders," John Shackleton, president and CEO of Open Text, said in the statement.
Both Open Text and Hummingbird have operations in Ottawa and both are publicly traded.
Who's gone be next = ANGOSS???????????