May 18, 2009 (FinancialWire) — American Software, Inc. (NASDAQ: AMSWA) (Current Market Cap: US$123.62 Mil.) has agreed to increase the price of its offer to acquire all of the outstanding common stock of Logility, Inc. (NASDAQ: LGTY) that it doesn’t already own to $7.02 per share net to the seller in cash, without interest.

The $7.02 offer price represents a premium of 40.4% when compared to Logility’s closing price on March 18, the last trading day prior to the initial report of the tender offer, and a 37.6% premium over American Software’s original proposal of $5.10, which was also the closing price on May 14.

American Software currently owns around 88% of the outstanding common stock of Logility.

Atlanta-based American Software develops, markets and supports a line of integrated business applications, including supply chain management, internet commerce, financial, warehouse management and manufacturing packages.

Atlanta-based Logility is a provider of collaborative supply chain solutions.

FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation for its news, opinions or distributions. Further disclosure is at the FinancialWire(tm) web site (http://www.financialwire.net/disclosures.php). Contact FinancialWire(tm) directly via inquiries@financialwire.net.

Free annual reports for companies mentioned in the news are available through the Free Annual Reports Service (http://investrend.ar.wilink.com/?level=279).

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.