Silver Lake to buy Germany's Software AG in $2.42 bln deal (updated)

Software AG

21/04/2023 23:59

(Adds details)
       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'Silva)
 ((Juby.Babu@thomsonreuters.com;))