Cooley Godward Kronish represented Cupertino-based Chordiant Software Inc. in its $161.5 million sale to business software maker Pegasystems Inc.
Pegasystems, represented by Wilson Sonsini Goodrich & Rosati , said March 15 it will buy Chordiant Software in a cash tender offer of $5 per share for all outstanding shares of Chordiant’s common stock. The $5-per-share offer represents a 31 percent premium over Chordiant’s closing stock price of $3.81 Friday, and comes two months after Chordiant rejected an offer from CDC Software Corp. for $3.46 per share, the Associated Press reported. Chordiant, which makes customer relationship management software, reported revenue of $76.3 million in the fourth quarter, Pegasystems said in a press release.
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