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IBM subsidiary and Rational set to merge.

TELECOMWORLDWIRE-24 January 2003-IBM subsidiary and Rational set to merge(C)1994-2003 M2 COMMUNICATIONS LTD

Software development platform provider Rational Software Corp and a subsidiary of IBM have cleared the Hart-Scott-Rodino Antitrust Improvements Act of 1976 for their upcoming merger.

As part of the merger agreement IBM will acquire the equity of Rational for around USD2.1bn in cash. This represents an individual share price of USD10.50.

Rational shareholders have also recently approved the merger agreement. The closing date for the transaction is expected to occur sometime in the first quarter of 2003.

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Article Type:Brief Article
Geographic Code:1USA
Date:Jan 24, 2003
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