Europe’s largest software provider, SAP (SAP), offered to buy accounting software firm BlackLine (BL) for nearly $4.5B in June, but was rebuffed and is now considering whether to pursue the company again, according Reuters, citing a copy of the offer letter reviewed and a person familiar with the matter. The German software giant is working with JPMorgan on the deal and submitted a formal, non-public offer of $66 per share on June 18, but BlackLine rejected the advance, according to the letter and the source. SAP is now weighing whether it wants to reopen negotiations, although nothing’s been decided, the report added. Bloomberg also reported that BlackLine rejected a previously-made takeover bid from SAP.
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