Logility Supply Chain Solutions (LGTY) said Monday that the unsolicited, non-binding proposal to acquire all of its outstanding common shares for $15 per share in cash has been withdrawn by the bidder.
The company confirmed receiving the proposal on Friday and did not disclose any reason for the withdrawal. Logility said it has ended discussions with the bidder.
Logility also said its definitive deal to be acquired by Aptean for $14.30 per share in cash remains in effect and its board continues to recommend that shareholders approve the transaction.
Price: 14.25, Change: +0.05, Percent Change: +0.39
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