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July 25, 2006

Suitor loses interest

Posted by Kristi Heim at 10:37 AM

So CDC Corp's hot pursuit of Onyx is officially over. The Hong Kong-based company said this morning that it has withdrawn its offer to buy the Bellevue CRM software vendor for $5 a share. Onyx said it will go through with its deal to be acquired by M2M Holdings of Indiana for $4.80 a share, or about $92 million, pending approval by shareholders.

CDC and Onyx never really hit it off, feuding since their first contact, or you might say lack of contact, last year.

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