On July 28, 2009, IBM and SPSS Inc. announced that they have entered into a definitive merger agreement for IBM to acquire SPSS in an all-cash transaction at a price of $50 per share, or a total cash consideration of approximately $1.2 billion. SPSS is a publicly held company headquartered in Chicago, Illinois. The acquisition is subject to SPSS shareholder approval, applicable regulatory clearances and other customary closing conditions. It is expected to close later in the second half of 2009.
The lawyers involved in this transaction include partner Scott A. Barshay and associate Sophia D. Tawil on corporate matters; partner Jennifer S. Conway and associates M. C. Tania Balthazaar, Kerry Halpern-Skoglund and Daniel A. Birnhak on executive compensation and benefits matters; and partner Andrew W. Needham and associates J. Leonard Teti II and Mark E. Dundon on tax matters. Summer associate Jisoo Kim also worked on corporate matters.