German business software maker SAP AG said Friday it has completed its $5.8 billion acquisition of U.S. database software maker Sybase Inc.
SAP, based in Walldorf, Germany, said all outstanding Sybase shares not tendered in the previously completed tender offer were converted into the right to receive $65 per share in cash.
The takeover won clearance from the European Commission last week. SAP had extended the deadline on its tender offer of $65 per share several times while it waited for that OK.
SAP said Sybase will operate as a unit of SAP America, its U.S. subsidiary.
Shares of SAP fell 66 cents to $45.93 in Friday afternoon trading.
Source:http://www.businessweek.com/ap/financialnews/D9H9FRJ00.htm
