Supply chain software provider Logility Supply Chain Solutions has received an unsolicited takeover bid of $15 per share, potentially challenging its previously agreed $14.30 per share buyout by Aptean, which is backed by PE firms including TA Associates, according to a report by Reuters.
The Atlanta-based company had already entered into a definitive merger agreement in January with Aptean, whose backer also include Charlesbank Capital Partners, Insight Partners, and Clearlake Capital. Despite the higher offer, Logility’s board has reaffirmed its recommendation that shareholders support the Aptean deal.
While the identity of the unsolicited bidder has not been disclosed, industry speculation suggests it may be another private equity-backed tech firm looking to outbid Aptean and capitalise on Logility’s high-margin software business.
Logility, previously known as American Software, has a market capitalisation of approximately $478m, according to LSEG data. Its software solutions help large enterprises optimise inventory, manufacturing, and logistics operations, making it a valuable acquisition target.
Although Logility’s board will engage in discussions with the new bidder, there is no certainty that a definitive agreement will be reached and the situation sets up a potential bidding war.
