Friday, August 12, 2022

Stacy Cowley and John Blau


Retek bidding battle – round three to SAP

SAP AG showed its determination to hold on to buyout target Retek Inc., offering a new bid of US$11 cash per share on Thursday, topping Oracle's Corp.'s $9 per share offer. Minneapolis-based Retek has accepted the amended offer, SAP and Retek said in a joint press release. The new deal represents a 29 percent premium over SAP's first offer, and an 86 percent premium on Retek's closing share price the day before SAP announced its deal to acquire the company.

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