SAP AG/SuccessFactors
On December 3, 2011, SAP AG (NYSE: SAP) and SuccessFactors, Inc. (NYSE: SFSF) reports that SAP's subsidiary, SAP America, Inc., entered into a definitive merger agreement with SuccessFactors pursuant to which a subsidiary of SAP would offer to acquire all outstanding shares of common stock of SuccessFactors for $40.00/per share in cash, representing an enterprise value of approximately $3.4 billion.
The SuccessFactors board of directors has unanimously approved the transaction.
The transaction will be funded from SAP's cash on hand and a euro 1 billion term loan facility. The closing of the tender offer is conditioned on SuccessFactors stockholders tendering at least a majority of the outstanding shares of SuccessFactors common stock (on a fully diluted basis) and clearances by relevant regulatory authorities. The transaction is expected to close in Q112 and be slightly dilutive to SAP's Non-IFRS earnings per share in 2012 and accretive in subsequent years.
The SuccessFactors board of directors has unanimously approved the transaction.
The transaction will be funded from SAP's cash on hand and a euro 1 billion term loan facility. The closing of the tender offer is conditioned on SuccessFactors stockholders tendering at least a majority of the outstanding shares of SuccessFactors common stock (on a fully diluted basis) and clearances by relevant regulatory authorities. The transaction is expected to close in Q112 and be slightly dilutive to SAP's Non-IFRS earnings per share in 2012 and accretive in subsequent years.
