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Top related persons:
Silver - 1 Chiara Elisei - 1 Amanda Cooper - 1 Alexander Huebner - 1 Rachel More - 1 Madeline Chambers - 1
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U.S Frankfurt MUNICH Germany
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Germany's Software AG - 2 Thomson - 2 Banks - 1 JPMorgan - 1 Citigroup - 1 Banco Santander - 1 Software AG - 1 Software AG's - 1

Search resuls for: "Germany's Software AG"


4 mentions found


☆ Silver Lake raises 1 bln euros in loans for Software AG takeover
  + stars: | 2023-08-01 | by ( ) www.reuters.com   time to read: +1 min
LONDON, Aug 1 (Reuters) - Silver Lake (SILAK.UL) on Tuesday raised a 1 billion euro ($1.10 billion) seven-year loan to fund its takeover of Germany's Software AG (SOWGn.DE), breathing new life into the sluggish syndicated leveraged loan market. The loan is split between 640 million euros and $405 million, paying a margin of 475 basis points (bps) over the benchmark rate, according to a term sheet seen by Reuters. On July 20, the U.S. private equity firm announced it had secured a 84.29% stake in Software AG, subject to closing of the tender offer, adding that the transaction was expected to close in the fourth quarter pending regulatory approvals. Software AG shares were last up 0.3% on the day in Frankfurt. They have fallen by 13% since hitting a multi-month high after Silver Lake's offer in April this year.
Persons: Silver, Chiara Elisei, Amanda Cooper Organizations: Germany's Software AG, Reuters, Banks, JPMorgan, Citigroup, Banco Santander, Software AG, Thomson Locations: U.S, Frankfurt
☆ Silver Lake waives majority stake requirement for Software AG offer
  + stars: | 2023-06-13 | by ( ) www.reuters.com   time to read: 1 min
MUNICH, Germany, June 13 (Reuters) - Silver Lake will no longer make its 2.36 billion euro offer to invest in Germany's Software AG (SOWGn.DE) conditional on the private equity firm acquiring more than 50% of the shares, according to a mandatory disclosure issued on Tuesday. By midday on Tuesday, the investor had only secured 30.5% of shares, despite support from Software AG's management. By waiving the 50% threshold condition, the offer is automatically extended by two weeks until June 28. Reporting by Alexander Huebner, Writing by Rachel More; Editing by Madeline ChambersOur Standards: The Thomson Reuters Trust Principles.
Persons: Alexander Huebner, Rachel More, Madeline Chambers Organizations: Germany's Software AG, Software AG's, Thomson Locations: MUNICH, Germany
☆ Rocket Software offers improved bid to acquire Germany's Software AG
  + stars: | 2023-05-09 | by ( ) www.reuters.com   time to read: +1 min
May 9 (Reuters) - Rocket Software on Tuesday announced an improved offer for the acquisition of the entire share capital of Germany's Software AG (SOWGn.DE) at an initial offer price of 34 euros per share ($37.43). The non-binding offer from Rocket Software, which is backed by private equity firm Bain Capital, comes after a bidding war for the German software company emerged last week. Rocket Software said its latest offer "would be a more compelling opportunity for Software AG’s employees, customers, and other stakeholders, and will deliver a superior outcome for Software AG’s shareholders." The Boston, Massachusetts-based Rocket Software offers software solutions to enterprises across all industries, to help with IT challenges across infrastructure, data, and applications. German multinational software firm Software AG, which is listed in Frankfurt, develops enterprise software for business process management, integration, and big data analytics.
☆ Silver Lake to buy Germany's Software AG in $2.42 bln deal
  + stars: | 2023-04-21 | by ( ) www.reuters.com   time to read: 1 min
April 22 (Reuters) - Private-equity firm Silver Lake has offered to buy Software AG (SOWGn.DE) in a deal that values the German business software developer at 2.2 billion euros ($2.42 billion). The offer price of 30 euros per share in cash by Silver Lake-controlled Blitz 22-449 SE represents a premium of 53% to Software AG's closing price of 19.59 euros on Thursday. In February 2022, Silver Lake had invested 344 million euros in the software developer's convertible bond, which upon conversion would represent nearly 9% of issued Software AG shares, the company said in a statement. Software AG's board and takeover committee are "highly supportive" of the offer and intend to recommend it to its shareholders, the company said. ($1 = 0.9102 euros)Reporting by Juby Babu in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.
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