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DALLAS - Supply-chain management software maker i2 Technologies Inc. said Thursday it is ending a deal to be acquired by JDA Software Group Inc.
The company said JDA, a business software company, will not allow disclosure of any discussion between the companies but said it expects a $20 million termination fee from JDA in the next three business days.
JDA could not immediately be reached for comment.
The companies announced a deal in November in which i2 shares were to be converted into the right to receive $14.86 per share in cash, while series B Convertible Preferred Stock would be converted into the right to receive $1,095.37 per share plus unpaid dividends.
Shares of i2 dropped to a new multiyear low of $5.90 before rebounding to $6.35 in morning trading, while JDA stock rose 19 cents to $12.76.
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