We reported yesterday that Israeli-data and IT security firm Aladdin Knowledge Systems Ltd. (NASDAQ: ALDN) was up sharply higher on reports that its old merger offer "may" be developing again. The company has issued a response, and it seems that there are still more questions and opportunity for skepticism than there are any solid answers.
The company just noted:
In response to a January 6th article published in the Israeli Newspaper“The Marker” and other media reports, Aladdin announced that it iscontinuing discussions with Jasmine Holdco regarding a possiblestrategic transaction. There can be no assurance that a definitivetransaction between Aladdin and Jasmine can be negotiated or the timingor terms of any such transaction.
Aladdin and Jasmine have extended the previously announced standstillagreement, which originally expired on October 30, 2008, during thependency of these negotiations.
Aladdin intends to make a further announcement upon the execution ofany definitive agreement with Jasmine or the termination ofnegotiations with Jasmine.
We would urge you to consider that the old $13.00 was one which wasrebuffed. If the new weak economy changes management’s opinion on a"true value" then something might be possible. But….
Shares rose about 37% to $9.62 yesterday. There has been no pre-marketvolume, but it looks like early indications are showing shares slightlylower.
Jon C. Ogg
January 7, 2009