Lawson Software receives $1.8 billion offer (Reuters)

Friday, March 11, 2011 11:01 PM

NEW YORK (Reuters) – Lawson Software (LWSN.O) said New on weekday it had received an uninvited bid from privately held software company Infor and Golden Gate Capital to acquire every its unpaid ordinary have at $11.25 per deal in cash.

Shares of the software maker closed on weekday at $11.55, after having risen 18 percent since Tuesday, when Reuters reportable it had hired Barclays Capital (BARCBC.UL) to explore a sale of the business.

The substance toll from Infor and Golden Gate Capital -- a San Francisco clannish equity concern that holds a field wager in Infor -- would continuance Lawson at $1.8 billion.

Lawson said in a promulgation it is conducting talks with Infor and Golden Gate, but there is no assurance an commendation module be reached.

The company said it does not intend to interpret further unless and until an commendation is reached, discussions with Infor and Golden Gate have been terminated, or Lawson's commission concludes an current strategic review.

Officials with Infor and Golden Gate Capital could not directly be reached for comment.

Reuters, citing people old with the process, on Tuesday said Lawson had hired Barclays in recent weeks and that its analyse of strategic alternatives is in the primeval stages and could allow another options.

The sources said doable bidders might allow Infor, owned by Golden Gate Capital, Hewlett-Packard Co (HPQ.N), International Business Machines Corp (IBM.N), Microsoft Corp (MSFT.O), Oracle Corp (ORCL.O) and SAP (SAPG.DE).

Billionaire investor Carl Icahn owns most one-tenth of Lawson, which is based in St. Paul, Minnesota.

(Reporting by Ransdell Pierson; Editing by Ed Lane)


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