BERLIN: Rocket Software said on Monday it was giving up its counteroffer for Software AG and selling its stake in the company to US financial investor Silver Lake instead. Silver Lake had in April announced a €2.4 billion (US$2.62 billion) takeover bid for Software AG, prompting a counteroffer from Rocke
BERLIN: Rocket Software said on Monday it was giving up its counteroffer for Software AG and selling its stake in the company to US financial investor Silver Lake instead.
Software AG's management and supervisory boards supported Silver Lake despite Bain's higher offer of €36 per share, drawing criticism from minority shareholders at the company's annual general meeting last month. Rocket would sell and transfer its entire stake of 10.02 per cent in Software AG for 32 euros per share, the company said.
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