Versant Corporation (NASDAQ:VSNT) and Actian Corporation have entered into a definitive merger agreement through which Actian will purchase all of the outstanding common shares of Versant at $13 per share in cash for a total purchase price of around $37 million. Versant’s Board of Directors has unanimously endorsed the Actian Acquisition Agreement and at the same time authorized the termination of Versant’s merger agreement with UNICOM Systems through the terms of that agreement. Actian’s $13 per share cash purchase price marks a bonus of roughly 13 percent over the $11.50 per share price considered by the prior merger agreement with Unicom, and a 32 percent windfall over Versant’s close of $9.85 per share on the last trading day before announcement of the prior agreement with Unicom. Before entering into the Actian Acquisition Agreement, Versant concluded its previous merger agreement with Unicom and, through that agreement, Versant will pay a termination fee of $750,000. The transaction is currently anticipated to close in Versant’s first fiscal quarter ending January 31st. Shares closed up 8,56 percent at $12.81, having been traded in a 52-week range of $8.50 to $12.03.
Yahoo! (NASDAQ:YHOO) is actively examining advertising tech companies for purchases, and privately held Rubicon and Pubmatic are said to be potential candidates, say sources to Business Insider. Shares closed up 0.88 percent on the day at $18.40, and have traded in a 52-week range of $14.35 to $18.50.
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