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News Breaks | | | | January 11, 2013 | | 13:35 EDT |  | VRNT, CMVT | Verint says received favorable ruling from IRS for Comverse merger
Verint Systems (VRNT) says in an 8-K filing that on January 9, it received a favorable private letter ruling from the U.S. Internal Revenue Service with respect to the previously announced merger of Comverse Technology (CMVT) with and into a wholly owned subsidiary of Verint pursuant to the Agreement and Plan of Merger, dated as of August 12, 2012, among Verint, CTI, and Merger Sub. The ruling provides that, based on the information submitted to the IRS and the representations set forth in the letter, the merger will qualify as a tax-free reorganization within the meaning of Section 368(a)(1)(A) of the Internal Revenue Code of 1986. | |
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