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Date Posted: 8/4/2010
Sage quits €600m TeamSystem takeover battle
By Martin Arnold and Philip Stafford
Published: July 30 2010 23:01 | Last updated: July 30 2010 23:01
Sage, the accounting software group, has pulled out at the last minute from the €600m (£499m) auction of TeamSystem, the Italian business management software group.
The surprise decision, made at a meeting of Sage’s board on Thursday, has left the door open to HgCapital and Cinven, the remaining private equity bidders.
EDITOR’S CHOICE Sage in lead to buy IT group with €650m bid - Jul-28Sage names head of Europe as new CEO - Jul-16In depth: Mergers and acquisitions - Apr-26
http://www.ft.com/cms/s/2/543946b6-9c11-11df-a7a4-00144feab49a.html
Source Website: http://www.ft.com/cms/s/2/543946b6-9c11-11df-a7a4-00144feab49a.html
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