Conversion Capital buys 407,806 shares of ILOG

By Lisa Kerner

Charlotte, N.C., July 29 - Investors led by Conversion Capital Partners Ltd. bought 407,806 shares of ILOG SA stock between May 30 and July 25, priced from €5.67 to €6.47 each.

The transactions were reported in a schedule 13D filed with the Securities and Exchange Commission.

According to the filing, the investors beneficially own 2,353,058 shares, or approximately 12.25%, of the Paris software company.

It was previously reported that International Business Machines Corp. agreed to acquire ILOG through a concurrent cash public tender offer in both France and the United States.

The cash tender offer will be at a price of €10.00 per ordinary share and the U.S. dollar equivalent per American Depositary Share, for a total purchase price of approximately €215 million, or approximately $340 million, on a fully diluted basis.

IBM, based in Armonk, N.Y., develops computer systems, software, storage systems and microelectronics.

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