UPDATE: Constellation Software Said Raised Offer for Manatron (MANA) Rejected, Lowers Stake

In an amended 13D filing on Manatron Inc. (Nasdaq: MANA), Constellation Software disclosed a raised offer for the company from $9 to $10. The firm said the proposal was rejected by the Board of Directors of the Issue on March 8, 2007.

Constellation Software also disclosed they lowered their stake in MANA to 4.02% from 5.45%