As the market turns, episode #1732

All, right, the latest chapter is out! And they even released the news on a Saturday! The headlines online today read “CDC Software to Hold a Conference Call June 27 at 4:30 p.m. EDT to Discuss its Proposed Increased Offer to the Shareholders of Onyx Software Corporation.” The “Proposed Increased Offer” referred to has of course been rejected soundly, as per yesterday’s news direct from the Onyx horse’s mouth.

Onyx rejected the initial unsolicited offer from CDC Software late last year, which had valued Onyx at US $50 million. In March, CDC raised the bid to $4.57 a share, or about $80 million, in cash. Onyx, meanwhile, acting on legal advice, decided instead to sell out to M2M. This week, the hostile takeover bid returned. Onyx topped the US $92 million offer proffered by M2M in a third offer, and this was rejected yesterday. You, too, may listen in to what promises to be an interesting attempt at face-saving. Call one of the following access numbers a few minutes before the scheduled start time of the call: In the US and Canada, it’s 1.877.692.2592; international calls should use 1.973.582.2700.

Conference ID number is 7553825. A replay of the event will be released on August 1; one wonders what that delay is all about… For the digital replay, it’s 1.877.519.4471 for the US and Canada; for everywhere else, 1.973.341.3080. The passcode is the same as above. CDC Software is a provider of enterprise software applications designed to assist organizations in delivering a superior customer experience.

The CDC Software product suite includes Pivotal CRM, c360 CRM, Microsoft Dynamics CRM platform development tools, Ross enterprise resource planning, Ross supply chain management, IMI warehouse management, order management, Platinum China human resource solutions, and business analytics. CDC Software now boasts more than 5,000 customers worldwide in the manufacturing, financial services, health care, home building, real estate, and wholesale and retail distribution industries.