Wednesday, June 21, 2006

Loeb Partners Lowers Stake in Onyx Software (ONXS) To 8.35% - 13D

In an amended 13D filing (#5) on Onyx Software Corp. (Nasdaq: ONXS) today, Loeb Partners and affiliated funds disclosed a 8.35% stake in the company down from the 9.81% stake disclosed on Aprl 20th (amendment #4). In the April filing, the group demanded two board seats and said they will urge the company to negotiate a definitive merger agreement with CDC Corp (Nasdaq: CHINA) at a premium. NOTE: CDC raised its bid for ONXS yesterday - $4.85 per share in cash - or - $5.00 per share comprised of 50 percent (or $2.50) in cash and 50 percent (or $2.50) in registered Class A Common Shares of CDC.


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