WALLDORF (dpa-AFX) - SAP AG (SAP) announced that its indirectly wholly-owned subsidiary, Saturn Expansion Corp., has extended the expiration of its cash tender offer for all outstanding shares of common stock of SuccessFactors, Inc. (SFSF) for $40.00 per share, without interest and less any applicable withholding taxes, to 5:00 p.m., New York City time on February 15, 2012.
SAP noted that the tender offer was extended because the parties had not yet received approval of the Committee on Foreign Investment in the United States, or CFIUS, under U.S. national security regulations, which was a condition to the offer.
SAP further stated that its subsidiaries, SAP America, Inc. and Saturn Expansion, have waived the condition that the CFIUS approval be obtained prior to the expiration of the tender offer.
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