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CDC Software Withdraws Bid for Chordiant

SHANGHAI ( TheStreet) -- CDC Software (CDCS) has withdrawn its offer to acquire Chordiant Software (CHRD) and has sold its entire 1.3% interest in the Cupertino, Calif., company.

CDC offered to buy Chordiant last week for $3.46 a share, or $105.1 million. But on Monday Chordiant said the offer "significantly undervalues" the company and wasn't in its best interests.

Chordiant shares closed Thursday up 4 cents to $3.71, but fell after hours by 21 cents, or 5.7%, to $3.50.

-- Reported by Joseph Woelfel in New York.

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