Lawson holders may put back 2.5% convertibles after merger with GGC

By Susanna Moon

Chicago, July 8 - Lawson Software, Inc. said holders may put their 2.5% senior convertible notes due 2012 because of a fundamental change that occurred on July 5 after its planned merger with GGC.

The notes are putable at par plus accrued interest to the put date of Aug. 8.

Holders may surrender their notes from July 8 until 5 p.m. ET on Aug. 5, the expiration date.

The Bank of New York Mellon is paying agent.

As previously announced, the company entered into an agreement on April 26 with GGC Software Holdings, Inc., a Delaware corporation, and Atlantis Merger Sub, Inc., also a Delaware corporation and a wholly owned subsidiary of GGC. Under the proposed merger, Atlantis Merger Sub will merge into Lawson, and Lawson will become a wholly owned subsidiary of GGC.

Lawson also said on June 20 that the 2.5% notes due 2012 would be convertible if the merger occurred beginning on the business day following the effective date of the merger until 5 p.m. ET on the day preceding the fundamental change repurchase date.

Based in St. Paul, Minn., Lawson specializes in enterprise software.

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