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Technology Stocks : OTG Software, Inc. (OTGS)

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To: HiSpeed who started this subject	2/21/2002 7:50:46 AM
From: Glenn Petersen	of 33

Legato Will Buy OTG in a Cash-And-Stock Deal MOUNTAIN VIEW, Calif. (Reuters) - Software company Legato Systems Inc. (LGTO.O) on Thursday said it would buy OTG Software Inc. (OTGS.O) for $403 million in a cash-and-stock deal that expands its data management offerings. The deal values OTG at $11.13 per share, Legato said. Under terms of the agreement, each OTG share will be converted into the right to receive 0.6876 of a share of Legato common stock and $2.50 per share in cash. Shares of Legato closed Wednesday at $12.55, off a 52-week high of $18.15. OTG shares closed at $9.20, off a high of $12.63. OTG shareholders will own about 21 percent of the combined company after the transaction is completed. The deal should close in the second quarter of 2002, Legato said. The deal must be approved by shareholders of both companies and regulators. JPMorgan H&Q, a division of J.P. Morgan Securities Inc., served as financial advisor to Legato. Goldman Sachs & Co. served as financial advisor to OTG. 06:58 02-21-02

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