Captaris buyout by Open Text
Oct.14, 2008 in
Mergers and Acquisitions
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:
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