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webMethods acquired by Software for $546 million
By Lisa Kerner
Charlotte, N.C., June 1 – Software AG’s subsequent tender offer for webMethods, Inc. expired at midnight ET on May 31 and the closing of the second and final step in Software’s acquisition of webMethods was completed on June 1.
In total, 51,656,928, or 90.2% of the company’s outstanding shares were tendered, according to a schedule 13D filing with the Securities and Exchange Commission.
Following the closing, webMethods became a wholly owned indirect subsidiary of Software and each webMethods share not tendered during the offer was converted into the right to receive $9.15 per share in cash without interest.
Software’s subsidiary Wizard Acquisition, Inc. began the $9.15-per-share tender offer on April 18. The transaction is valued at $546 million.
Software is an open standards-based infrastructure solutions company based in Darmstadt, Germany.
webMethods provides business integration software and is based in Fairfax, Va.
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