LLR Partners to Acquire I-many
PHILADELPHIA, PA and EDISON, NJ--(Marketwire - April 29, 2009) - LLR Partners, one of the
Mid-Atlantic's largest private equity investment firms, with more than $1.4
billion under management, and I-many, Inc. (NASDAQ: IMNY), a leading
provider of contract management software and services for the enterprise,
announced today a definitive merger agreement under which LLR Partners will
acquire I-many for approximately $0.43 per share in cash. The transaction
is valued at $36 million, including consideration payable to holders of
options and warrants, or approximately $23.3 million net of
I-many's debt and transaction-related expenses, as set forth in the merger
agreement. The transaction price represents a premium of nearly 50% above
I-many's closing stock price earlier this week, as well as more than 70%
above the average closing prices during the past week, the past four week
period, and the three-month and six-month pe
April 29, 2009 | Filed Under
Mergers and Acquisitions Comments