Lawson Software gets $11.25 per share bid
Saturday, March 12, 2011; 4:40 PM
ST. PAUL, Minn. -- Lawson Software says it's talking with two firms about their unsolicited offer to pay $11.25 each for all of Lawson's shares.
The deal would value the company at more than $1.8 billion. Lawson shares closed at $11.55 on Friday following a report Tuesday that the company was exploring a sale. Shares closed Monday at $9.88.
Lawson Software Inc. acknowledged the offer from business-software company Infor and private-equity firm Golden Gate Capital late Friday. The company, which makes software for businesses, says talks are continuing, but its board has not decided whether it wants to sell the firm. It also says that there is no guarantee that a deal will be made.
Lawson says it has hired Barclays Capital to help it evaluate the proposal, as well as other "strategic alternatives."