Silver Lake reiterates offer in battle for Software AG takeover

Software AG

10/05/2023 08:02

BERLIN, May 10 (Reuters) - Silver Lake appeared unshaken
in the battle to acquire Software AG  SOWGn.DE  on Wednesday,
reiterating in a statement its offer of 32 euros ($35.23) per
share for the German company.
    Rival Bain Capital via its portfolio firm Rocket Software
has offered up to 36 euros per share for Software AG.
    "Silver Lake reiterates its conviction in the attractiveness
of its previously announced offer of EUR 32.00 per share of
Software AG, to whose stated strategy and whose status as an
independent, Darmstadt-based company Silver Lake remains fully
committed," Silver Lake said in a statement.
    Software AG said on Tuesday night that Silver Lake's offer
presented a high degree of transaction security in addition to a
significant premium for shareholders.
    It declined to respond further on the counteroffer. 
    
($1 = 0.9084 euros)

 (Reporting by Hakan Ersen, Writing by Rachel More, Editing by
Miranda Murray)
 ((rachel.more@thomsonreuters.com;))