Monday, May 15, 2006

Hit #97

SSA Global (SSAG) announced today that it is being acquired by Infor for $1.35 billion in an all-cash deal. The offer, of $19.5/share, is a premium of 48% over my average cost of $13.18/share.

Earlier when SSA Global acquired Epiphany (Hit #58) in a cash deal, I had written that I would have preferred a stock swap since SSA Global shares looked undervalued then. I ended up buying some shares later from cash returned in another takeover.

At this point QAD (QADI), Retalix (RTLX), Manhattan Associates (MANH) look like targets too, with Manhattan Associates being the least speculative and a fairly-valued one.

JDA Software (JDAS) and Lawson (LWSN) will remain as standalone players, with the latter also being a candidate for going private. Both remain attractive buys today.

Previous hit - Cambridge Antibody (#96)


Post a Comment

<< Home