SAP's Tender Offer For SuccessFactors Seen Closing Jan. 18
December 16 2011 - 4:44PM
Dow Jones News
SAP AG (SAP, SAP.XE) on Friday began its roughly $3.4 billion
acquisition of SuccessFactors Inc. (SFSF), outlining a tender offer
that will last until Jan. 18 at 5 p.m. EST.
SAP has said the deal will significantly accelerate its cloud
applications, platforms and infrastructure technology.
The $40 per-share offer for all outstanding SuccessFactors
shares represents a 52% premium over the closing share price
earlier this month, before the company disclosed the deal.
The transaction will be funded from SAP's cash on hand and a
EUR1 billion term loan facility.
SAP's American depositary shares closed at $54.61 Friday, while
SuccessFactors closed at $39.88. Both stocks were inactive after
hours.
-By Drew FitzGerald, Dow Jones Newswires; 212-416-2909; Andrew.FitzGerald@dowjones.com
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