Business Objects S.A. - Amended tender offer statement by Third Party (SC TO-T/A)
30 Janvier 2008 - 6:38PM
Edgar (US Regulatory)
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE TO
(Rule 14d-100)
TENDER OFFER STATEMENT UNDER SECTION 14(d)(1) or 13(e)(1)
OF THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 7)
Business Objects S.A.
(Name of Subject Company (Issuer))
SAP France S.A.
a wholly owned subsidiary of SAP AG
SAP AG
(Offerors)
(Names of Filing Persons (Identifying Status as Offeror, Issuer or Other Person))
Ordinary Shares,
0.10 nominal value per share
and
American Depositary Shares, each
representing one Ordinary Share
(Title of Class of Securities)
F12338 103
12328X 107
(CUSIP Number of Class of Securities)
Michael Junge
General Counsel
SAP AG
Dietmar-Hopp-Allee 16
69190 Walldorf
Federal Republic of Germany
+49 6227 74 7474
(Name, Address, and Telephone Number of Person Authorized
to Receive Notices and Communications on Behalf of Filing Persons)
Copy to:
A. Peter Harwich
Eric S. Shube
Allen & Overy LLP
1221 Avenue of the Americas
New York, NY 10020
USA
+1 212 610 6300
CALCULATION OF FILING FEE:
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Transaction valuation*
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Amount of filing fee**
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$3,953,271,351
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$121,365
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þ
Check the box if any part of the fee is offset as provided by Rule 0-11(a)(2) and identify
the filing with which the offsetting fee was previously paid. Identify the previous filing by
registration statement number, or the Form or Schedule and the date of its filing.
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Amount Previously Paid: $121,365
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Filing Party: SAP France S.A.
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Form or Registration No.: Schedule TO
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Date Filed: December 4, 2007
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Check the box if the filing relates solely to preliminary communications made before the
commencement of a tender offer.
Check the appropriate boxes below to designate any transactions to which the statement relates:
þ
third-party tender offer subject to Rule 14d-1.
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issuer tender offer subject to Rule 13e-4.
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going-private transaction subject to Rule 13e-3.
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amendment to Schedule 13D under Rule 13d-2.
Check the following box if the filing is a final amendment reporting the results of the tender
offer:
þ
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* Estimated solely for purposes of calculating the filing fee. The transaction valuation was
calculated on the basis of (i) the offer price of (a)
42.00 for each of the 26,075,669 ADSs
outstanding; (b)
42.00 for each of the 37,537,988 ordinary shares held by U.S. holders within the
meaning of Rule 14d-1(d) under the Exchange Act; (c)
22.55 for each of the 45,000 2003 warrants
held by U.S. holders; (d)
24.96 for each of the 135,000 2004 warrants held by U.S. holders; (e)
18.87 for each of the 90,000 2005 warrants held by U.S. holders; (f)
19.69 for each of the 45,000
2006 warrants held by U.S. holders; and (g)
12.01 for each of the 120,000 2007 warrants held by
U.S. holders and (ii) an exchange rate (using the noon buying rate in New York City for cable
transfers in
as certified for customs purposes by the Federal Reserve Bank of New York on
November 28, 2007) of $1.4750 for one euro. The number of ADSs is based on information contained in
Business Objects S.A.s Form 10-Q for the quarterly period ended September 30, 2007, filed with the
SEC on November 8, 2007 (the 10-Q). The number of ordinary shares held by U.S. holders is
calculated by (a) multiplying (i) 97,867,164 ordinary shares, which is the number of outstanding
shares as set forth in the 10-Q, by (ii) 65%, which is the highest historical percentage of
ordinary shares (including ordinary shares underlying ADSs) held by U.S. holders of which Business
Objects S.A. is aware, and then (b) subtracting from the resulting product 26,075,669, which is the
number of ADSs outstanding as set forth in the 10-Q. The number of warrants held by U.S. holders
is based on information contained in a warrant register provided to the Offeror by Business Objects
S.A. Based upon the information provided to the Offeror by Business Objects S.A., there are no
ORNANEs held by U.S. holders and, accordingly, no fee is being paid with respect to the offer for
ORNANEs.
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** The amount of the filing fee, calculated in accordance with Rule 0-11 under the Securities
Exchange Act of 1934, as amended, as modified by Fee Advisory No. 6 for the fiscal year 2007,
equals $30.70 per $1,000,000 of transaction valuation.
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TABLE OF CONTENTS
This Amendment No. 7 (this Amendment) amends and supplements the Tender Offer Statement
filed under cover of Schedule TO, as amended (the Schedule TO) initially filed with the
Securities and Exchange Commission on December 4, 2007, which relates to the offer by SAP France
S.A., a
société anonyme
organized under the laws of the Republic of France (SAP France) and a
wholly-owned subsidiary of SAP AG, a stock company organized under the laws of the Federal Republic
of Germany (SAP AG), to purchase all outstanding ordinary shares, nominal value
0.10 per share
(the Shares), of Business Objects S.A., a
société anonyme
organized under the laws of the
Republic of France (Business Objects), including ordinary shares represented by American
Depositary Shares (ADSs), as well as the outstanding warrants to acquire Shares (Warrants) and
convertible bonds convertible or exchangeable into new or existing Shares (ORNANEs, and together
with the Shares, ADSs and Warrants, Securities), issued by Business Objects through concurrent
offers in the United States (the U.S. Offer) and in France (the French Offer and together with
the U.S. Offer, the Offers). In the U.S. Offer, SAP France is seeking to acquire all outstanding
Shares, Warrants and ORNANEs held by U.S. holders (within the meaning of Rule 14d-1(d) of the
Securities and Exchange Act of 1934, as amended) and all outstanding ADSs wherever the holder is
located, upon the terms and subject to the conditions set forth in the U.S. Offer to Purchase dated
December 4, 2007 (the U.S. Offer to Purchase), the related ADS Letter of Transmittal (the ADS
Letter of Transmittal) and the Forms of Acceptance (the Forms of Acceptance). This Amendment is
being filed on behalf of SAP France and SAP AG. This Amendment is the final amendment to the
Schedule TO. Capitalized terms not otherwise defined herein shall have the meanings ascribed to
them in the Schedule TO.
ITEM 8.
INTEREST IN SECURITIES OF THE SUBJECT COMPANY.
Item 8 is amended and supplemented to include the following information:
SAP France, SAP AG and Business Objects issued a joint press release on January 30, 2008
announcing the expiration of the subsequent offering period. A copy of the joint press release is
attached as Exhibit (a)(5)(xii) and is incorporated herein by reference.
Based upon a count by the receiving agent in the U.S. Offer, 2,323,359 ADSs were tendered
during the subsequent offering period in the United States and have been accepted for payment.
Additionally, SAP France acquired a total of 5,786,569 Shares through market purchases on
Euronext pursuant to the decentralized part of the French Offer during the subsequent offering
period. Together with the Shares, ADSs, ORNANEs and Warrants already held by SAP France, SAP
France now holds an aggregate of 92.91% of the outstanding Shares (including Shares represented by
ADSs), 99.76% of the outstanding ORNANEs and 100% of the outstanding Warrants. These Securities
are owned directly by SAP France S.A., which is a wholly owned subsidiary of SAP AG. SAP AG is
indirect beneficial owner of the reported Securities. In addition to these Securities, SAP France
will purchase the Securities tendered in the centralized part of the French Offer during the
subsequent offering period once the
Autorité des marchés financiers
(AMF) determines the number
of Securities that were validly tendered in the centralized part of the French Offer during the
subsequent offering period. The AMF is expected to announce the final results of the French Offer
on or about February 5, 2008.
ITEM 11.
ADDITIONAL INFORMATION.
Item 11 is amended and supplemented to include the information set forth above under Item 8,
which is incorporated in this Item 11 by reference.
ITEM 12.
EXHIBITS.
Item 12 is amended and supplemented to include the following exhibit:
(a)(5)(xii) Joint press release issued by SAP France, SAP AG and Business Objects on January 30,
2008.
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SIGNATURE
After due inquiry and to the best of their knowledge and belief, the undersigned hereby
certify as of January 30, 2008 that the information set forth in this statement is true, complete and
correct.
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SAP FRANCE S.A.
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By:
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/s/ MICHAEL PLOETNER*
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Name: Michael Ploetner
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*By power of attorney
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SAP AG
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By:
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/s/ MICHAEL PLOETNER*
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Name: Michael Ploetner
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*By power of attorney
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3
EXHIBIT INDEX
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EXHIBIT NO.
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DESCRIPTION
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(a)(1)(i)
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U.S. Offer to Purchase dated December 4, 2007.*
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(a)(1)(ii)
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ADS Letter of Transmittal.*
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(a)(1)(iii)
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Letter to Brokers, Dealers, Commercial Banks, Trust Companies and Other Nominees.*
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(a)(1)(iv)
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Letter to Clients from Brokers, Dealers, Commercial Banks, Trust Companies and other
Nominees (ADSs).*
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(a)(1)(v)
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Guidelines for Certification of Taxpayer Identification Number on Substitute Form W-9.*
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(a)(1)(vi)
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Form of Acceptance for Shares.*
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(a)(1)(vii)
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Form of Acceptance for ORNANEs.*
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(a)(1)(viii)
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Form of Acceptance for Warrants.*
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(a)(1)(ix)
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Letter to Clients from Brokers, Dealers, Commercial Banks, Trust Companies and other
Nominees (Shares and ORNANEs).*
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(a)(5)(i)
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Summary advertisement published December 4, 2007.*
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(a)(5)(ii)
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Press release issued by SAP AG on December 4, 2007.*
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(a)(5)(iii)
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Joint press release issued by SAP France, SAP AG and Business Objects on January 15, 2008.**
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(a)(5)(iv)
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Press release issued by SAP AG dated January 16, 2008.***
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(a)(5)(v)
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Joint press release issued by SAP AG and Business Objects S.A. announcing joint product
offerings dated January 16, 2008.***
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(a)(5)(vi)
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Joint press release issued by SAP AG and Business Objects S.A. announcing partner support
dated January 16, 2008.***
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(a)(5)(vii)
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Transcript of bloggers teleconference by senior management of SAP AG and Business Objects
S.A. held on January 16, 2008.****
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(a)(5)(viii)
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Transcript of European media teleconference by senior management of SAP AG and Business
Objects S.A. held on January 16, 2008.****
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(a)(5)(ix)
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Transcript of global press briefing by senior management of SAP AG and Business Objects
S.A. held on January 16, 2008.*****
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(a)(5)(x)
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Presentation slides for January 16, 2008 global press briefing.*****
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(a)(5)(xi)
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English translation of text of web advertisement posted by SAP France S.A. on January 22,
2008.*****
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(a)(5)(xii)
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Joint press release issued by SAP France, SAP AG and Business Objects on January 30, 2008.
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(b)
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Accession and Restatement Agreement dated as of November 30, 2007, by and among SAP AG,
Deutsche Bank AG, Deutsche Bank Luxembourg S.A. and Deutsche Bank AG, Paris Branch and
Certain Financial Institutions.*
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(d)(1)
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Tender Offer Agreement dated as of October 7, 2007, between SAP AG and Business Objects.*
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(d)(2)
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Assignment and Assumption Agreement dated as of October 22, 2007, between SAP AG and SAP
France.*
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(d)(3)
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Amendment No. 1 to Tender Offer Agreement dated as of December 3, 2007, by and among SAP
AG, SAP France and Business Objects.*
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EXHIBIT NO.
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DESCRIPTION
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(d)(4)
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Confidentiality Agreement entered into on September 8, 2007, by and between SAP AG and
Business Objects.*
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(g)
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None.
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(h)
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None.
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(i)(1)
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Power of attorney for SAP France S.A. dated January 18, 2008.*****
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(i)(2)
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Power of attorney for SAP AG dated January 18, 2008.*****
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*
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Previously filed on Schedule TO dated December 4, 2007.
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**
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Previously filed on Amendment No. 2 to Schedule TO dated January 15, 2008.
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***
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Previously filed on Amendment No. 3 to Schedule TO dated January 16, 2008.
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****
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Previously filed on Amendment No. 4 to Schedule TO dated January 18, 2008.
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*****
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Previously filed on Amendment No. 5 to Schedule TO dated January 22, 2008.
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5
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