SAP Has Around 92% Stake In Sybase
July 27 2010 - 3:27AM
Dow Jones News
SAP AG (SAP) Tuesday said it has around 92% stake in Sybase Inc.
(SY) after the competition of the tender offer for the U.S.
database maker.
As of the expiration of the tender offer, Tuesday 0100 GMT,
"80,929,717 shares of common stock of Sybase had been tendered into
and not properly withdrawn from the tender offer. These shares
represent approximately 92.1% of Sybase's outstanding shares of
common stock, or 91.8% on a fully diluted basis," SAP said in a
statement.
The European Commission recently cleared SAP's $5.8 billion
acquisition of Sybase, which last week reported very strong
earnings, buoying SAP's stock.
The deal is SAP's largest since its 2007 $6.8 billion buy of
Business Objects SA, and comes as it attempts to keep pace with
Oracle Corp. (ORCL) in the business software market.
-By Archibald Preuschat, Dow Jones Newswires; +49 211 13872 18;
archibald.preuschat@dowjones.com
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