ZURICH, June 15 (Reuters) - Bain Capital Private Equity has made an offer for SoftwareOne (SWON.S) which values the Swiss software management company at 2.9 billion Swiss francs ($3.21 billion), Bain said on Thursday.
In its response, SoftwareOne board, said the offer "materially undervalues" the company and was not in its best interest or that of the majority of its shareholders.
Bain has made an all cash offer of 18.50 Swiss francs per share to take the company private, it said.
The company's shares, which closed at 15.17 Swiss francs on Wednesday, were up 19.8% in pre-market trade.
In its statement, SoftwareOne confirmed that the "indicative, unsolicited and non-binding offer from Bain Capital" it had received was supported by those shareholders.
Persons:
Bain, SoftwareOne, Daniel von Stockar, Rene Gilli, von Stockar, John Revill, Tomasz Janowski
Organizations:
Bain Capital Private Equity, Microsoft, Adobe, IBM, Bain Capital, Bain, Thomson
Locations:
ZURICH, Swiss, Stans, Switzerland