Software AG of Darmstadt, West Germany, has won over its US affiliate Software AG Systems Inc of Reston, Virginia to last week’s acquisition proposal (CI No 874). Software AG Systems is recommending that its shareholders accept the tender offer of $11.50 a share, which has been sweetened with a special dividend of $1.62 a share, making up $13.12 a share. The tender offer and conditional on Software AG acquiring at least a majority of the shares outstanding – but Software AG already holds 20%, and directors adn executives speaking for another 24% have agreed to accept the offer so that the West German is almost home and dry with its bid already.
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