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International Business Machines Corp. (IBM) on Thursday said it agreed to acquire FileNet Corp. (FILE) for $1.6 billion, or $35 a share. The price carries only a 1% premium to FileNet's closing price Wednesday of $34.65 a share.
At $35.60 apiece, shares of FileNet are higher than the offer price. Some investors and analysts are speculating that another suitor may step in and offer a higher price for FileNet.
Source: WSJ.com - IBM To Buy FileNet For $35 A Share