With its share price skyrocketing, information security firm Aladdin Knowledge Systems Ltd. (Nasdaq: ALDN; TASE: ALDN) clarified, to an extent, the current state of its extended talks with Vector Capital unit Jasmine Holdco LLC.
Aladdin management said, "There can be no assurance that a definitive transaction between Aladdin and Jasmine can be negotiated or the timing or terms of any such transaction."
Aladdin shares jumped 37% on Nasdaq yesterday to $9.62, and are up over 56% so far in 2009. Its Nasdaq market cap is now $133.76 million. Its shares are up 69% so far this year on the Tel Aviv Stock Exchange (TASE).
Aladdin and Jasmine extended a standstill agreement that was originally to expire on October 30, 2008, as the companies continue negotiations.
In October, private equity firm Vector Capital offered to buy Aladdin at about $14.50 per share. Yesterday, rumors in the markets were that Vector had lowered its offer to $10-11 per share, about a 50% premium over the opening price that day.
Published by Globes [online], Israel business news - www.globes-online.com - on January 7, 2009
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