E2open Withdraws Offer For Amber Road - Quick Facts

(RTTNews) - E2open, a cloud supply chain management software company, said Friday that it has withdrawn its proposal to the Board of Directors of Amber Road (AMBR) to engage in discussions regarding E2open's acquisition of all of the outstanding shares of common stock of Amber Road for $10.50 per share in cash. The proposal represented a significant premium of more than 50% over Amber Road's unaffected stock price on February 9, 2018.

"We are extremely disappointed by the lack of engagement from Amber Road's Board of Directors in connection with several of our proposals to engage in discussions regarding a proposal to acquire all of the outstanding shares of Amber Road for cash at the proposed price of $10.50 per share," said Michael Farlekas, President and Chief Executive Officer of E2open.

"Despite our repeated outreach, Amber Road's Board has refused to engage in any dialogue with E2open to discuss a potential transaction," said Michael.