The Board of Directors of Hummingbird Ltd. (NASDAQ: HUMC, TSX: HUM) today acknowledged the formal commencement of an unsolicited offer from a wholly-owned subsidiary of Open Text Corporation (NASDAQ: OTEX, TSX: OTC) to purchase all of the outstanding common shares of Hummingbird not currently owned by Open Text and its affiliates for US$27.75 per share. Open Text first announced its intention to commence an offer on July 6, 2006.
The Hummingbird Board, in consultation with its financial and legal advisors, will thoroughly evaluate the Open Text offer. After this evaluation, the Hummingbird Board will issue a Directors' Circular and a related Solicitation/Recommendation Statement on Schedule 14D-9F that will contain important information, including the Board's recommendation to shareholders with respect to the Open Text offer.
Hummingbird advises shareholders to defer making any determination with respect to the Open Text offer until reading the Directors' Circular and the related Solicitation/Recommendation Statement on Schedule 14D-9F.
The Directors' Circular and the related Solicitation/Recommendation Statement on Schedule 14D-9F regarding the Open Text offer will be available on or before July 25, 2006.
Shareholders are urged to read the Directors' Circular and Solicitation/Recommendation Statement on Schedule 14D-9F and any amendments thereto when they become available because they contain important information. Investors can obtain a free copy of the Directors' Circular and Solicitation/Recommendation Statement on Schedule 14D-9F and any amendments when they become available and all other filings made by Hummingbird at www.sedar.com and www.sec.gov. In addition, these materials may be obtained free from Hummingbird by directing a request to Hummingbird, 1 Sparks Avenue, Toronto, Ontario M2H 2W1, 1.877.FLY.HUMM, Attention: Investor Relations.
As previously announced, Hummingbird is party to an arrangement agreement with affiliates of Symphony Technology Group under which a company owned by Symphony will acquire all of Hummingbird's outstanding common shares pursuant to a plan of arrangement in an all-cash transaction valued at US$26.75 per share. A special meeting of Hummingbird's shareholders to consider the plan of arrangement is scheduled for July 21, 2006. Hummingbird mailed a management information circular relating to the plan of arrangement to its shareholders on June 29, 2006. The circular is also available at www.sedar.com and www.sec.gov. At this time the Board continues to recommend that shareholders vote in favour of the arrangement with Symphony.
The Hummingbird Board, in consultation with its financial and legal advisors, will thoroughly evaluate the Open Text offer. After this evaluation, the Hummingbird Board will issue a Directors' Circular and a related Solicitation/Recommendation Statement on Schedule 14D-9F that will contain important information, including the Board's recommendation to shareholders with respect to the Open Text offer.
Hummingbird advises shareholders to defer making any determination with respect to the Open Text offer until reading the Directors' Circular and the related Solicitation/Recommendation Statement on Schedule 14D-9F.
The Directors' Circular and the related Solicitation/Recommendation Statement on Schedule 14D-9F regarding the Open Text offer will be available on or before July 25, 2006.
Shareholders are urged to read the Directors' Circular and Solicitation/Recommendation Statement on Schedule 14D-9F and any amendments thereto when they become available because they contain important information. Investors can obtain a free copy of the Directors' Circular and Solicitation/Recommendation Statement on Schedule 14D-9F and any amendments when they become available and all other filings made by Hummingbird at www.sedar.com and www.sec.gov. In addition, these materials may be obtained free from Hummingbird by directing a request to Hummingbird, 1 Sparks Avenue, Toronto, Ontario M2H 2W1, 1.877.FLY.HUMM, Attention: Investor Relations.
As previously announced, Hummingbird is party to an arrangement agreement with affiliates of Symphony Technology Group under which a company owned by Symphony will acquire all of Hummingbird's outstanding common shares pursuant to a plan of arrangement in an all-cash transaction valued at US$26.75 per share. A special meeting of Hummingbird's shareholders to consider the plan of arrangement is scheduled for July 21, 2006. Hummingbird mailed a management information circular relating to the plan of arrangement to its shareholders on June 29, 2006. The circular is also available at www.sedar.com and www.sec.gov. At this time the Board continues to recommend that shareholders vote in favour of the arrangement with Symphony.
