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PROS to Acquire Cameleon Software for $33M

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PROS Holdings (NYSE: PRO) and Cameleon Software (Paris: CAM) today
announced PROS has entered into a definitive tender offer agreement to
acquire Cameleon in an all-cash transaction valued at approximately €24
million (U.S. $33 million)1, net of cash acquired. The
transaction has been approved by the Boards of Directors of both PROS
and Cameleon, respectively on the 22nd and the 24th
of October, 2013. Under the terms of the agreement, PROS will commence
the proposed tender offer to acquire all the outstanding shares of
Cameleon. Key terms of the agreement include the following:

PROS offer of €2.05 per share represents a 45% premium on
Cameleon's trailing 90-day average

See full press release

Posted-In: News Guidance Contracts Management M&A Global

 

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