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IBM deal to buy Ilog clears antitrust hurdle



By AP
13 November 2008 @ 08:15 am AEST

ARMONK, N.Y. - International Business Machines Corp. said Wednesday that its deal to buy Ilog, a French business software company, has won approval from European regulators.

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IBM said it has already cleared regulatory hurdles in the United States.

The company said in July that it would by Ilog for 10 euros per share and the dollar equivalent for the company's American depositary stock.

Ilog's board has approved the sale.

IBM shares fell $1.54 to $78.20 in after-hours trading, having closed the regular session at $79.74.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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