SAP Has Around 92% Stake In Sybase

SAP AG (SAP) Tuesday said it has around 92% stake in Sybase Inc. (SY) after the competition of the tender offer for the U.S. database maker.

As of the expiration of the tender offer, Tuesday 0100 GMT, "80,929,717 shares of common stock of Sybase had been tendered into and not properly withdrawn from the tender offer. These shares represent approximately 92.1% of Sybase's outstanding shares of common stock, or 91.8% on a fully diluted basis," SAP said in a statement.

The European Commission recently cleared SAP's $5.8 billion acquisition of Sybase, which last week reported very strong earnings, buoying SAP's stock.

The deal is SAP's largest since its 2007 $6.8 billion buy of Business Objects SA, and comes as it attempts to keep pace with Oracle Corp. (ORCL) in the business software market.

-By Archibald Preuschat, Dow Jones Newswires; +49 211 13872 18; archibald.preuschat@dowjones.com

Sybase (NYSE:SY)
Graphique Historique de l'Action
De Mai 2024 à Juin 2024