Silver Lake waives majority stake requirement for Software AG offer

Software AG

13/06/2023 15:43

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 Chambers)
 ((rachel.more@thomsonreuters.com;))