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Top related persons:
Silver Lake - 2 Silver - 2 Alexander Huebner - 2 Juby Babu - 1 Shweta Agarwal - 1 Sriraj - 1 Andy Youniss - 1 Christian Lucas - 1
Top related locs:
Silver Bengaluru BERLIN Sofware MUNICH Germany
Top related orgs:
Thomson - 3 Software AG - 2 Bain Capital - 2 Rocket Software - 2 Software - 2 Silver - 1 Silver Lake - 1 Rocket - 1

Search resuls for: "Software AG's"


6 mentions found


☆ Silver Lake secures 63% stake in Software AG after months-long pursuit
  + stars: | 2023-06-29 | by ( ) www.reuters.com   time to read: +1 min
June 29 (Reuters) - U.S. private equity firm Silver Lake said on Thursday it has secured a majority of 63% in Software AG (SOWGn.DE) and intends to pursue a delisting of the business software developer. Earlier this month, Bain Capital and Rocket Software sold all their shares in Software AG to Silver Lake, helping the company gain a 41% stake. Silver Lake had in April offered to buy Software AG for 30 euros per share, valuing the German software developer at 2.2 billion euros ($2.39 billion). The bid prompted a counteroffer from Rocket Software, owned by private equity firm Bain Capital. In May, the software developer said it supported a sweetened 32 euros per share offer from Silver Lake for the company.
Persons: Silver Lake, Silver, Juby Babu, Shweta Agarwal, Sriraj Organizations: Silver, Software AG, Bain Capital, Rocket Software, Software, Silver Lake, Thomson Locations: Silver, Bengaluru
☆ Rocket gives up counteroffer for Software AG, sells stake to Silver Lake
  + stars: | 2023-06-19 | by ( ) www.reuters.com   time to read: +1 min
BERLIN, June 19 (Reuters) - Rocket Software said on Monday it was giving up its counteroffer for Software AG (SOWGn.DE) and selling its stake in the company to U.S. financial investor Silver Lake instead. Silver Lake had in April announced a 2.4 billion euro ($2.62 billion) takeover bid for Software AG, prompting a counteroffer from Rocket Software which is owned by private equity firm Bain Capital. "Unfortunately, we were not successful in our efforts," Rocket Software chairman Andy Youniss said in a statement. Rocket would sell and transfer its entire stake of 10.02% in Software AG for 32 euros per share, the company said. Silver Lake said it had as such now secured 41% of shares in Software AG, noting its cash offer to other Software AG shareholders remained open until June 28.
Persons: Silver Lake, Silver, Andy Youniss, Christian Lucas, Alexander Huebner, Sarah Marsh, Jonathan Oatis Organizations: Rocket Software, Software AG, Rocket, Bain Capital, Software, EMEA, Thomson Locations: BERLIN, Sofware, Silver
☆ 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
☆ Silver Lake submits offer document for Software AG​
  + stars: | 2023-05-17 | by ( ) www.reuters.com   time to read: +1 min
BERLIN, May 17 (Reuters) - Silver Lake officially submitted its offer document for Software AG (SOWGn.DE) on Wednesday, almost a month after announcing a 2.4 billion euro ($2.64 billion) takeover bid. In its offer document, Silver Lake reiterated that it intends to delist Software AG as soon as practically possible after the transaction. It has secured 30.1% of the share capital through a binding agreement with company founder Peter Schnell's Software AG Foundation, a charitable foundation and longstanding anchor shareholder, and through purchases on the stock exchange. Software AG's management and supervisory boards support Silver Lake despite Bain's higher offer, drawing criticism from minority shareholders at the company's annual general meeting on Wednesday. Software AG's chairman of the board of directors, Silver Lake partner Christian Lucas, was absent from the AGM which was run by an external lawyer.
☆ Silver Lake adds to Software AG stake amid acquisition bid
  + stars: | 2023-04-28 | by ( ) www.reuters.com   time to read: +1 min
Silver Lake said in a regulatory disclosure that it had acquired a 5% stake in Software AG at or below its acquisition bid of 30 euros per share from existing shareholders. This adds to its agreement to buy a 25.1% stake in Software AG from a charitable foundation that is the principal shareholder in the company. The consummation of that agreement is not subject to Silver Lake's offer being accepted by a majority of Software AG's shareholders, Silver Lake said. Software AG has said it is "highly supportive" of Silver Lake's offer and intends to recommend it to the company's shareholders. Silver Lake also disclosed on Friday that it had secured debt financing for its offer for Software AG.
☆ 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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