Jim Lubinskas

Software AG (TecDAX, ISIN DE 0003304002 / SOW) today closed a contract with Prof. Dr. Dr. h.c. mult. August-Wilhelm Scheer and Prof. Dr. Alexander Pocsay for the transfer of ca. 48% of the outstanding shares of IDS Scheer (TecDAX, ISIN DE 0006257009 /IDS). The sale of these shares will be part of a public tender offer by SAG Beteiligungs GmbH, a wholly-owned subsidiary of Software AG, starting in the current quarter. Software AG will offer €15 in cash per outstanding share of IDS Scheer capital. This represents a purchase price for the entire share capital of around €487 million. After obtaining regulatory approval, the formal offer period will start in August and finish before the end of September. As ca. 48% of the shares have been contractually secured it is not nece... (more)