This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Cadian Capital Management Announces Its Support For The Merger Of Comverse Technology Into Verint Systems

NEW YORK, Jan. 31, 2013 /PRNewswire/ -- Cadian Capital Management, LLC (together with its affiliates, "Cadian Capital"), today announced that it intends to vote the shares of common stock that it owns in Comverse Technology, Inc. (NASDAQ: CMVT) ("CTI") and Verint Systems Inc. (NASDAQ:VRNT) ("Verint") in favor of the merger of CTI with and into a wholly-owned subsidiary ("Merger Sub") of Verint, with Merger Sub surviving as a wholly-owned subsidiary of Verint, at the upcoming special meeting of shareholders of CTI and special meeting of stockholders of Verint, each scheduled for February 4, 2013.  Cadian Capital believes the terms of the merger are fair and reasonable to and in the best interests of both CTI shareholders and Verint stockholders. 

On May 30, 2012, Cadian Capital entered into a letter agreement with CTI, in which the parties agreed, among other things, to take various actions with respect to the composition of the Board of Directors of Verint, the Board of Directors of Comverse, Inc., a wholly owned subsidiary of CTI, and the Board of Directors of CTI, and Cadian Capital agreed, among other things, to vote all securities of CTI and Verint over which it has beneficial ownership and publicly announce its intention to vote in favor of a merger between CTI and Verint if the proposed terms and conditions of which, in the reasonable business judgment of Cadian Capital acting in good faith, are fair and reasonable to, and in the best interests of, both CTI shareholders and Verint stockholders.

Cadian Capital is an equity long/short hedge fund manager with a focus on the technology sector.


Eric Bannasch / Justin GriffithCadian Capital Management, LLC (212) 792-8800

SOURCE Cadian Capital Management, LLC

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,135.72 +38.82 0.21%
S&P 500 2,101.04 +2.51 0.12%
NASDAQ 4,982.8090 +15.6680 0.32%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs