SAP AG (SAP, SAP.XE) once more extended its tender offer to
acquire SuccessFactors Inc. (SFSF), citing a wait for approval from
the Committee on Foreign Investment in the U.S.
The German software company has now extended the deadline four
times for that reason, although it revealed Thursday that it has
waived a condition that the approval be garnered before the
expiration of the tender offer.
SAP in December offered to buy the online human-resources
software provider for $40 a share, or roughly $3.4 billion. The new
tender deadline is Feb. 15. As of Wednesday at 5 p.m. EST, about
85.9% of SuccessFactors' shares outstanding had been tendered.
SuccessFactors, based in San Mateo, Calif., offers online
services that help manage employees and carry out performance
reviews.
SAP's American depositary shares closed Wednesday at $63.53,
while SuccessFactors' shares closed at $39.83. Neither was active
premarket.
-By Mia Lamar, Dow Jones Newswires; 212-416-3207;
mia.lamar@dowjones.com