Gingko, formed by software vendor
If Gingko acquires 90% of share prior the subsequent offering, scheduled to end Nov. 21, it can conclude the merger without a shareholder vote. If it doesn't acquire the remaining shares, it will need to schedule a shareholder vote to approve the merger, which could take an additional 60 to 90 days.
IRI's board last week urged rejection of a rival non-binding bid from another software company, Open Ratings, for $3.75 a share, up to 100% of proceeds in the lawsuit and structuring that would have allowed some of the proceeds to be tax free. The board said there was no evidence Open Ratings had the financing to complete the deal.