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News Breaks | | | | February 19, 2013 | | 08:37 EDT |  | ACIW, ORCC | ACI Worldwide announces end of waiting period for tender offer
ACI Worldwide (ACIW) announced that the waiting period under the Hart-Scott-Rodino Antitrust Improvement Act of 1976 (HSR) in connection with ACI's tender offer for common stock of Online Resources Corporation (ORCC) was terminated early on February 15 by the U.S. Federal Trade Commission. The waiting period was scheduled to expire on February 21. As announced on January 31 ACI and Online Resources entered into a definitive agreement contemplating the acquisition of Online Resources by ACI via a tender offer to acquire all of the outstanding shares of Online Resources's common stock at a price of $3.85 per share in cash. The termination of the HSR waiting period satisfies one of the conditions to consummate the tender offer. Other closing conditions remain, including, among others, a minimum tender of a majority of outstanding Online Resources shares on a fully diluted basis | |
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