June 23, 2003 – Comshare Incorporated (NASDAQ: CSRE), announced today that it has entered into a definitive merger agreement with Geac (TSX: GAC), a global enterprise software company for business performance management (BPM) based in Markham, Ontario. Comshare, Incorporated, a leading provider of corporate performance management software, will be acquired through a cash tender offer, followed by a cash merger. Under the terms of the definitive agreement, Comshare stockholders will receive US$ 4.60 in cash for each share of Comshare common stock held.
Bryant Park Capital (BPC) acted as the exclusive financial advisor to Comshare and rendered a fairness opinion to the board of directors on this transaction.
“Bryant Park Capital added real value throughout this process. They prepared the Comshare management team and helped us refine our message. Bryant Park Capital created competition and provided access to decision makers of prospective buyers. BPC was effective at negotiating and gave our management team the ability to run the business while leaving the M&A process to proceed in parallel.”