i2 Terminates Merger Transaction with JDA
i2 Technologies Inc. terminates its Agreement and Plan of Merger, dated as of Aug. 10, 2008, with JDA Software Group Inc. and Iceberg Acquisition Corp, a wholly-owned subsidiary of JDA. JDA has not provided consent to disclosure of any discussions between the parties and has yet to release a statement. i2 expects to receive the non-refundable termination fee of $20 million from JDA within three business days.
Jackson L. Wilson Jr., executive chairman of the i2 board of directors, comments, "i2 is a tremendous company with excellent customers, employees and a strong financial position with significant cash balances. While it is unfortunate that we could not consummate the merger agreement with JDA, we look forward to fully focusing on making our customers successful. The Board remains committed to delivering value to our stockholders and knows that i2ers around the world are immersed in ensuring the success of i2's customers."
Jackson L. Wilson Jr., executive chairman of the i2 board of directors, comments, "i2 is a tremendous company with excellent customers, employees and a strong financial position with significant cash balances. While it is unfortunate that we could not consummate the merger agreement with JDA, we look forward to fully focusing on making our customers successful. The Board remains committed to delivering value to our stockholders and knows that i2ers around the world are immersed in ensuring the success of i2's customers."