The deal, worth roughly $2 billion, was approved by the company following six weeks of a strategic review process that was initiated after the companies made an unsolicited takeover bid. Per terms of the deal, Lawson's shareholders will receive only $11.25 per share, representing a 7.3 percent discount from the stock's closing price on Monday. That price, however, puts a 14 percent premium on the stock's close on March 7 - the last day of trading before reports came out of the deal.
In March, Infor and Golden State Capital issued a bid worth over $1.8 billion for Lawson, which specializes in the production of software that helps businesses automate their operations. After Lawson performed its strategic review of the competitive bid, it ultimately decided to accept the offer, the Wall Street Journal reports.
"After a thorough examination of the strategic alternatives available to the company as well as extensive discussions with Golden Gate and Infor, Lawson's board unanimously concluded that this transaction is in the best interests of the company and our stockholders," Lawson Software chief executive Harry Debes said.
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