SAP to Acquire Sybase
SAP and Sybase Inc., Dublin, Calif. announce that SAP's subsidiary, SAP America Inc., has signed a definitive merger agreement to acquire Sybase Inc., in a transaction that will bring the two information technology (IT) companies together, expected to enable companies to become better-run "unwired enterprises." Under the terms and conditions of the merger agreement, SAP America Inc., will make an all cash tender offer for all of the outstanding shares of Sybase common stock at $65.00 per share, representing an enterprise value of approximately $5.8 billion.
The Sybase board of directors has unanimously approved the transaction. The closing of the tender offer is conditioned on the tender of a majority of the outstanding shares of Sybase's common stock on a fully diluted basis and clearance by the relevant antitrust authorities.
The Sybase board of directors has unanimously approved the transaction. The closing of the tender offer is conditioned on the tender of a majority of the outstanding shares of Sybase's common stock on a fully diluted basis and clearance by the relevant antitrust authorities.