Aladdin Knowledge Systems Ltd. (NYSE: ALDN) shares have risen sharply on new reports that the Israeli data security software provider was close to receiving a buyout offer from a Vector Capital Group affiliate. Israel’s ‘TheMarker’ financial news Web site reported a new offer from Vector’s Jasmine Holdco LLC in the works. This wouldn’t exactly be the first dance for this company, and if it does not come to pass it will not be the first disappointment.
Keep in mind that an original offer of $13.00 was given last year and Aladdin said the offer was opportunistic and undervalued the company.
Shares are up almost 30% at $9.00 on the reports. Even if an offer comes, it will likely have to come at a substantial premium since its 52-week trading range is $5.85 to $24.23.
Jon C. Ogg
January 6, 2009
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