Cravath Guides IBM On $1.3B Social Business Consultant Buy

Law360, New York (August 27, 2012, 1:17 PM EDT) -- IBM Corp. will scoop up business communications and technology consulting firm Kenexa Corp. for roughly $1.3 billion as the computing and technology giant looks to bolster its social business capabilities, the buyer said Monday.

Armonk, N.Y.-based IBM will purchase Pennsylvania-based Kenexa, a publicly held company based in Wayne, Pa., for $46 per share, a 38.9 percent premium to Kenexa's Friday closing price of $32.39 on the New York Stock Exchange. The deal is an all-cash transaction subject to approval by Kenexa shareholders and is expected to...
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