UPDATED: 10/17/2008

Target: Captaris (CAPA) - Captaris Inc (CAPA) is a business automation software developer.

Buyer: Open Text Corp (OTEX) - mainly a content management software developer.

Notes:

  • Orig. Announced: 9/4/2008
  • Deal: $4.80/sh cash.
  • Currently trading at: $4.70
  • Arb spread: $0.10.

Analysis:

These numbers do not look that great to me. I will watch, but mostly ignore this one.

Backstory:

In March 2008, Captaris rejected a $4.75-per-share offer by private-equity firm Vector Capital. -TradingMarkets.com

Sources:

TheStandard.com

TradingMarkets.com

CMSWatch.com