Lee,
I pulled this off the net. The acquisition price has gone up to $15/share due to entry of an un-named third party.
regards,
Tony
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Autodesk and Softdesk Amend Merger Agreement Autodesk and Softdesk Amend Merger Agreement December 19, 1996, 9:33 PM EST
SAN RAFAEL, Calif.--(BUSINESS WIRE)--Dec. 19, 1996--Autodesk, Inc. (NASDAQ: ADSK), and Softdesk, Inc. (NASDAQ: SDSK) announced today that they have amended their definitive merger agreement.
The amendment increases the purchase price to $15.00 per share for Softdesk shareholders, payable in Autodesk common stock based on the average closing prices on the Nasdaq National Market for the five trading days immediately preceding the closing date. The merger is intended to be accounted for as a pooling of interests, and is subject to approval of Softdesk's stockholders and appropriate government agencies.
"We have increased the purchase price principally in response to an indication of interest received by Softdesk from a third party," said Carol Bartz, Autodesk's Chairman and CEO. "We are committed to this combination and to the strategic vision it represents in providing comprehensive AEC solutions to our customers, while at the same time positioning the combined companies for long-term growth."
"Softdesk is committed to the merger with Autodesk as it reflects our dedication to the AEC industry and allows us to carry out our long-term strategic vision, and benefits our customers," said Dave Arnold, CEO of Softdesk.
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