A Gleiss Lutz team has advised the supervisory board of Software AG, a global market leader in enterprise software, in connection with Silver Lake's public takeover offer and the conclusion of an investment agreement between Software AG and Silver Lake.
In connection with the investment agreement, Silver Lake has announced its intention to launch a voluntary public takeover offer at a price of EUR 30.00 in cash per share. This puts the volume of the transaction at around EUR 2.2 billion. Silver Lake has concluded a share purchase agreement with the Software AG Foundation to acquire 25.1% of the shares in Software AG.
Software AG has its headquarters in Darmstadt. Software AG shares are traded on the regulated market (Prime Standard) of Deutsche Börse AG in Frankfurt am Main. Software AG has around 5,000 employees across more than 70 countries and generates annual revenues of more than EUR 950 million.
Silver Lake is a global technology investment firm with more than USD 95 billion in combined assets under management. It has employees in North America, Europe and Asia. Silver Lake's portfolio companies collectively generate combined annual revenues of more than USD 282 billion and employ more than 713,000 people worldwide.
Gleiss Lutz advised the supervisory board of Software AG on takeover law issues and other aspects in connection with the transaction.
The following team of Gleiss Lutz lawyers advised the supervisory board of Software AG: Dr. Christian Cascante (partner, Frankfurt), Dr. Jochen Tyrolt (partner, both lead), Dr. Markus Martin (counsel), Dr. Julius-Vincent Ritz, Dr. Jan-David Geiger, Dr. Nico Holtkamp, Aaron Waible (all Corporate/M&A, all Stuttgart).
Gleiss Lutz has extensive expertise in public takeovers and is regularly involved in important transactions (both friendly and hostile) – whether representing the buyer, the management board or supervisory board of the target, or investment banks.
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