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.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BL:
- BlackLine rejected takeover approach from SAP, Bloomberg reports
- BlackLine up 5% after Bloomberg report on turning down SAP bid
- BlackLine approached about deal by SAP, offer rejected, Bloomberg says
- Private Markets: Ring maker Oura to become $11B company
- Cautious Optimism for BlackLine Amidst Strategic Execution and Market Uncertainty