SAP in Takeover of Business Objects
October 7, 2007
Cleary Gottlieb is representing Deutsche Bank AG as financial advisor to SAP AG in its friendly takeover of Business Objects S.A. Under the terms of the tender offer, SAP will make a cash offer of €42 per ordinary share and the US$ equivalent for American Depositary shares. The deal was announced on October 7 with a €4.8 billion volume and is expected to close in the first quarter of 2008.
SAP, headquartered in Walldorf, Germany, is a leading provider of business software with more than 41,000 customers in more than 120 countries.
The Paris based Business Objects is a leading business intelligence software company with solutions spanning information discovery and delivery, information management, analysis and performance management for more than 44,000 customers worldwide.