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Exact Says Takeover Talks Lean Toward Low End of Offer Range

Aug. 1 (Bloomberg) -- Exact Holding NV, a Dutch software provider in talks to be taken over, said the discussions are leaning toward the lower end of the price range it had signaled.

The talks are “guiding toward” the lower end of the 30 euros to 35 euros a share range, the Delft, Netherlands-based company said in a statement today. Exact, which disclosed last month it’s in discussions with several parties, said today it hasn’t received an expression of interest which merits exclusive negotiations.

The shares fell 1.8 percent to 30.55 euros at 9:42 a.m. in Amsterdam, valuing Exact at 745 million euros ($1 billion).

“It is highly uncertain that a deal will be reached soon, if at all,” the company said. Exact confirmed it’s in talks on July 11, leading to the biggest jump in its stock price since its 1999 initial public offering.

Interest for Dutch software providers is increasing, with private-equity firm Advent International agreeing to buy Dutch cloud-software maker Unit4 for about 1.15 billion euros in November. Exact in July agreed to sell its Longview unit, a provider of performance- and tax-management software, to Marlin Equity Partners.

Exact is in talks with several private-equity firms, such as Apax and KKR & Co., Reuters reported last month.

Exact today cut its forecast for the full year, adjusting it to the sale of assets. It now predicts earnings excluding such items as interest, taxes, depreciation and amortization of 41 million euros to 44 million euros. Revenue in the first half of rose to 107 million euros, while Ebitda dropped to 21.8 million euros.

To contact the reporter on this story: Elco van Groningen in Amsterdam at

To contact the editors responsible for this story: Simon Thiel at Ville Heiskanen, Kenneth Wong

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