SAP again extends $5.8B tender offer for Sybase
Purchase still awaits European Commission approvals
- By David Hubler
- Jul 19, 2010
SAP AG, through its indirectly wholly owned subsidiary Sheffield Acquisition Corp., has again extended the expiration of its cash tender offer for all outstanding shares of common stock of Sybase Inc., to 9:00 p.m., New York City time, July 26, 2010, unless further extended.
At a price of $65.00 per share, the purchase price for the Dublin, Calif., company is approximately $5.8 billion.
The tender offer was previously scheduled to expire at 9:00 p.m., July 16.
The offer is being extended because certain conditions to the offer are not yet satisfied, including approval of the European Commission under European Union merger regulations, SAP said today.
The transaction will bring together two information technology providers and enable them to become better-run “unwired enterprises,” according to SAP’s May 12 announcement.
SAP, of Walldorf, Germany, is a worldwide supplier of enterprise software.
Sybase is a provider of enterprise and mobile software to manage, analyze and mobilize information for business intelligence.
David Hubler is the former print managing editor for GCN and senior editor for Washington Technology. He is freelance writer living in Annandale, Va.