Enterprise software management company Hummingbird Ltd. on July 11 advised its shareholders to defer making a decision on whether to tender their shares in an unsolicited $493 million offer from content management software maker Open Text Corp.
In a statement, Toronto-based Hummingbird acknowledged receipt of the unsolicited offer, but it said shareholders should wait to consider the offer until its board of directors delivers a recommendation, which it said would be made on or before July 25. Open Text on July 5 said it would commence its offer by July 15.
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