International Business Machines Corporation (“IBM”), through its indirect wholly-owned subsidiary Watchtower AB (“Watchtower”) (previously Goldcup D 2933 AB), a Swedish private limited liability company, announced on June 11, 2007 a recommended public cash offer to the holders of all issued and outstanding shares in Telelogic AB (publ) (“Telelogic”), to tender all Telelogic shares to Watchtower (the “Offer”). The Offer has been unanimously recommended by the Board of Directors of Telelogic.
Watchtower has decided to extend the acceptance period until 17.00 (CET) on February 14, 2008. Provided that Watchtower announces that the conditions of the Offer have been satisfied or waived on February 20, 2008, settlement is expected to commence approximately one week thereafter.
Competition clearance of the Offer is subject to review by the European Commission. The review procedure was suspended on November 15, 2007 and resumed on December 3, 2007 following delivery of further information requested by the Commission. Watchtower will continue to work constructively with the European Commission to assist them in their investigation and remains positive with regards to obtaining clearance of the Offer.
All other terms and conditions set out in the offer document apply during the extended acceptance period.
The offer document in a Swedish and an English version and other information about the Offer is published on www.ibm.com/software/rational/welcome/telelogic/, on www.telelogic.com and on www.nordea.se/placera.
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