ACI Worldwide, Inc. (ACIW) and S1 Corp. (SONE) announced that the U.S. Department of Justice, or DOJ, has informed them that the DOJ is closing its investigation in connection with the proposed acquisition of S1 by ACI Worldwide.
On October 3, 2011, ACI Worldwide agreed to buy S1 for around $360 million in cash and 5.8 million ACI Worldwide shares. As per the agreement, S1 stockholders may elect to receive $10.00 in cash or 0.3148 shares of ACI Worldwide stock for each S1 share they own, subject to proration, such that in the aggregate 33.8% of S1 shares are exchanged for ACI Worldwide shares and 66.2% are exchanged for cash.
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