Infor, a global enterprise software provider, said on Monday that it will acquire SSA Global, an enterprise software firm aimed at the manufacturing and distribution industries, for $19.50 per share, according to the group’s May 15 release.
SSA Global had 69.57 million outstanding shares at the end of February, so the deal is valued at approximately $1.4 billion, according to Reuters.
The transaction entails a premium of roughly 25 percent on the closing price of SSA Global’s shares on Friday, Reuters reports.
“With this acquisition, Infor will become the third largest enterprise software provider in the industry with approximately $1.6 billion in revenue,” said Jim Schaper, chairman and chief executive of Infor, in the release.
SSA Global’s special committee of independent directors approved the arrangement, as did its board of directors. Shareholders representing more than 80 percent of all outstanding shares also OK’d the deal, and both companies expect it to close during the third quarter of the 2006 calendar year.
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