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Kenexa announces acquisition by IBM valued at $1.3B

Kenexa Corporation (KNXA) has entered into a definitive agreement to be acquired by IBM (IBM) for $46.00 per share in cash in a transaction valued at approximately $1.3B. The transaction has been approved unanimously by the Kenexa Board of Directors and the Kenexa Board of Directors recommends that Kenexa shareholders approve the transaction. Pending shareholder approval and satisfaction of regulatory and closing conditions, the transaction is expected to be completed during the fourth calendar quarter.