Deals

Investors Blast Software AG for Not Considering Rival Bids

Critics say Silver Lake’s offer enjoyed favorable treatment
Software AG CFO says firm also reviewed bid by Bain Capital

The headquarters of Software AG is seen in Darmstadt, Germany, Tuesday, October 24, 2006.
Photographer: Wolfgang Von Brauchitsch/Bloomberg

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By Laura Malsch

May 17, 2023 at 1:34 PM UTC

Updated on

May 17, 2023 at 2:26 PM UTC

This article is for subscribers only.

Investors in Software AG blasted management for backing a €2.4 billion ($2.6 billion) takeover bid by Silver Lake Management while failing to seriously consider a rival offer.

Software AG’s executives have stood by Silver Lake’s plan to buy the company for €32 per share, even while another private equity firm Bain Capital is offering at least €2 more a share.