AccessData committed to acquiring Guidance Software

By Lisa Kerner

Charlotte, N.C., Nov. 3 - Guidance Software, Inc. rejected an Oct. 6 offer from AccessData Corp. to acquire the company for $4.50 per share in cash and stock, it was announced on Monday.

Despite the rejection, AccessData said it will continue to "pursue all options available" to close a transaction with Guidance Software.

"In today's uniquely uncertain environment, we believe our offer would have been viewed very favorably by the vast majority of Guidance Software shareholders and believe that by rejecting it, without even granting us a meeting, the board of directors has fallen well short of fulfilling its fiduciary obligation to the company's shareholder base," an AccessData news release said.

AccessData provides digital investigations technology to law enforcement and government agencies. The company is located in Lindon, Utah.

Pasadena, Calif.-based Guidance Software develops and provides software solutions for digital investigations.

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