Gold prices hold sharp gains as soft US jobs data fuels Fed rate cut bets
ATLANTA – Shareholders of Logility Supply Chain Solutions, Inc. (NASDAQ:LGTY) approved a merger with software company Aptean, Inc. during a special meeting held on Monday. The merger agreement, initially announced on January 24, 2025, received overwhelming support, with over 82% of Logility’s outstanding shares represented at the meeting.
The approval follows a definitive proxy statement filed on March 4, 2025, recommending shareholders vote in favor of the merger. A total of 27,751,253 votes were cast for the merger, with 65,088 against and 99,395 abstaining. Additionally, shareholders approved on a non-binding, advisory basis the compensation that may be paid to Logility’s named executive officers in connection with the merger.
The merger is expected to be completed on April 4, 2025, subject to customary closing conditions. This strategic move is anticipated to enhance the combined entity’s position in the prepackaged software market.
Logility, formerly known as American Software Inc., is headquartered in Atlanta, Georgia, and specializes in services-prepackaged software. Aptean, Inc. is a software company that focuses on enterprise application software and services for companies in the manufacturing, distribution, retail, and service industries.
This transaction comes amid a backdrop of economic uncertainty and competitive pressures within the software industry. The merger is part of a broader trend of consolidation as companies seek to expand their market share and capabilities through strategic acquisitions.
The information in this article is based on a press release statement.
In other recent news, Logility Supply Chain Solutions, Inc. has made significant strides towards its acquisition by Aptean, Inc. The merger, initially announced on January 24, 2025, has cleared major regulatory hurdles, including approvals under the United Kingdom (TADAWUL:4280) National Security and Investment Act 2021 and the expiration of the mandatory waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. The transaction is structured as a takeover, with Logility becoming a wholly owned subsidiary of Aptean, and is expected to close in the second quarter of 2025, pending shareholder approval and other conditions. Logility has filed a definitive proxy statement with the SEC for a special shareholder meeting to vote on the merger, emphasizing the importance for shareholders to review all relevant materials. The acquisition values Logility at $14.30 per share in an all-cash deal, representing a significant premium over previous share prices. Logility’s board has unanimously recommended the Aptean offer, following the termination of discussions with another bidder. The merger is anticipated to enhance Aptean’s capabilities in the supply chain management software market, leveraging Logility’s AI-driven solutions. Financial advisory services for Logility in this transaction are provided by Lazard (NYSE:LAZ), with legal counsel from Jones Day.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.