MUNICH, Germany (Reuters) – Silver Lake will no longer make its 2.36 billion euro offer to invest in Germany’s Software AG conditional on the private equity firm acquiring more than 50% of the shares, according to a mandatory disclosure issued on Tuesday.
By midday on Tuesday, the investor had only secured 30.5% of shares, despite support from Software AG’s management.
By waiving the 50% threshold condition, the offer is automatically extended by two weeks until June 28.
(Reporting by Alexander Huebner, Writing by Rachel More; Editing by Madeline Chambers)
