ACI Worldwide has issued a statement, in response to the announcement that S1 Corporation’s Board of Directors has rejected its $9.50 per share cash and stock proposal.
In addition to knocking back the takeover approach, S1 affirmed its commitment to a pending merger with Fundtech. ACI said in a statement: “Today’s announcement from S1 does not change our strong belief that ACI’s $9.50 per share cash and stock proposal is superior to the Fundtech transaction. Our proposal provides S1 shareholders with a substantial premium and immediate cash value for their investment in S1, as well as the opportunity to participate in the significant upside potential of ownership in a combined ACI-S1. ACI remains ready and willing to complete this transaction, and we are prepared to do what is necessary to make this happen.”
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