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The offer is CHF 18.50 per share. After that, the company will be removed from the stock market. Bain Capital submitted a proposal to SoftwareOne’s board of directors for a voluntary public cash offering at the end of May, according to a letter released Thursday from Bain Capital Private Equity.
The proposal is backed by SoftwareOne’s founding shareholders Daniel von Stockar, B. Curti Holding AG and René Gilli, who together own 29.1 percent of the company.
It is in the Company’s interest to complete today’s deal with Bain Capital and thereby bring clarity to the market. With today’s deal, the founders would be fully committed to the proposed transaction and Bain Capital as a partner. They assumed they would continue to invest in SoftwareOne with a “significant portion of their stake”.
The offer of CHF 18.50 per share is financially attractive and beneficial to all stakeholders. The price corresponds to a 33% premium on the closing price of May 31, 2023 (the date of submission of the proposal to the Board of Directors) and a 38% premium on the average share price over the last 60 days.
(SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
