By Lisa Kerner
Charlotte, N.C., April 18 - Software AG subsidiary Wizard Acquisition, Inc. began a $9.15-per-share tender offer for all outstanding shares of webMethods, Inc.
The companies entered into a merger agreement on April 5 under which webMethods will become a wholly owned indirect subsidiary of Software following the close of the $546 million transaction in the second quarter of 2007.
webMethods' board of directors approved and adopted the agreement and recommended that shareholders tender their shares in the offer, which ends at midnight ET on May 15.
Software is an open standards-based infrastructure solutions company based in Darmstadt, Germany.
webMethods provides business integration software and is based in Fairfax, Va.
| Acquirer: | Software AG, through subsidiary Wizard Acquisition, Inc.
|
| Target: | webMethods, Inc.
|
| Price per share: | $9.15
|
| Announcement date: | April 18
|
| Expected closing: | Second quarter of 2007
|
| Stock price for target: | Nasdaq: WEBM; $9.29 on April 17
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
