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SAP owns 95.35% of Business Object's shares following offer
By Lisa Kerner
Charlotte, N.C., Feb. 5 - SAP AG subsidiary SAP France AG, in a subsequent offering period, acquired a total of 5,786,569 Business Objects SA shares through market purchases on Euronext pursuant to the decentralized part of its tender offer in France.
It acquired 2,925,140 Business Objects shares and 1,010 Business Objects bonds convertible or exchangeable into new or existing shares tendered into the centralized part of its French tender offer, according to a company news release.
In the U.S. offer, SAP France acquired 2,323,359 Business Objects American Depositary Shares.
SAP France now directly holds a total of 95.35% of the outstanding Business Objects shares, including shares represented by ADSs but excluding 274,907 shares that did not reach SAP France by Feb. 4.
In addition, SAP France owns 99.77% of the outstanding ORNANEs and 100% of the outstanding Business Objects warrants.
Business Objects intends to terminate its listing of ADSs on the Nasdaq Global Select Market effective Feb. 15 or shortly after that.
Trading of Business Objects ADSs on Nasdaq will be suspended as of Wednesday.
On Dec. 4, SAP France began its tender offer for Business Objects in both France and the United States.
It was previously reported that under the tender offer agreement SAP would make a cash offer of €42.00 per ordinary share and per ADS of Business Objects. The total offer amount, taking into account the transaction costs, was estimated to be slightly above €4.8 billion.
The tender offer also included all convertible bonds and warrants issued by Business Objects, for which the company offered €50.65 per bond.
Based in Walldorf, Germany, SAP is a provider of business software.
Business Objects is a Paris and San Jose, Calif.-based business intelligence software company.
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