SAP AG (SAP) Extends Offer to Acquire SuccessFactors, (SFSF)
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SAP AG (NYSE: SAP) has indirectly wholly-owned subsidiary, Saturn Expansion Corporation, has extended the expiration of its cash tender offer for all outstanding shares of common stock of SuccessFactors, Inc. (NYSE: SFSF) for $40.00 per share, without interest and less any applicable withholding taxes, to 5:00 p.m., New York City time on February 1, 2012.
The tender offer is being made pursuant to an Offer to Purchase dated December 16, 2011 and in connection with an Agreement and Plan of Merger dated as of December 3, 2011. SAP and SuccessFactors first announced this transaction on December 3, 2011.
The tender offer is being extended because the parties have not yet received approval of the Committee on Foreign Investment in the United States ("CFIUS") under U.S. national security regulations, which is a condition to the offer. Except for the extension of the tender offer, all other terms and conditions of the tender offer remain unchanged.
The tender offer is being made pursuant to an Offer to Purchase dated December 16, 2011 and in connection with an Agreement and Plan of Merger dated as of December 3, 2011. SAP and SuccessFactors first announced this transaction on December 3, 2011.
The tender offer is being extended because the parties have not yet received approval of the Committee on Foreign Investment in the United States ("CFIUS") under U.S. national security regulations, which is a condition to the offer. Except for the extension of the tender offer, all other terms and conditions of the tender offer remain unchanged.
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