Morgan Lewis Advises Phoenix In $139M Marlin Deal

Law360, New York (August 18, 2010, 12:47 PM EDT) -- Private equity firm Marlin Equity Partners has agreed to purchase core systems software maker Phoenix Technologies Ltd. in a deal totaling approximately $139 million.

The proposed transaction, announced after the close of trading Tuesday, will see Marlin pay Phoenix shareholders $3.85 in cash for each share of the company's outstanding stock.

The deal represents a 27 percent premium over Phoenix stock's $3.02 close Tuesday on the Nasdaq stock exchange and 25 percent over the company's average closing share price for the 30 days ending Aug. 17,...
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