BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - The boards of OpenText and Micro Focus have reached agreement on the terms of a recommended cash acquisition to be made by OpenText, through its subsidiary, Bidco, of the entire issued and to be issued share capital of Micro Focus. Each Micro Focus shareholder will be entitled to receive: 532 pence in cash per Micro Focus share. The acquisition values the entire issued and to be issued ordinary share capital of Micro Focus at approximately 1.8 billion pounds on a fully diluted basis and values Micro Focus at approximately 5.1 billion pounds on an enterprise value basis. The Micro Focus shares underlying the Micro Focus ADSs will be included in the deal.
The Micro Focus directors intend to recommend unanimously that its shareholders vote in favour of the Scheme at the Court Meeting and the resolutions to be proposed at the General Meeting.
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