SAP’s North American subsidiary, SAP
America, has increased its tender offer price for Retek to $11.00 per share, fighting off an earlier bid by competitor
Oracle. In turn, the board of directors of Retek has unanimously recommended to Retek stockholders that they accept the revised SAP offer.
The revised offer represents a 29% premium over SAP America’s original offer on February 28, 2005, a premium of 22% over the Oracle proposal announced on March 8, 2005 and a premium of approximately 5% over Retek’s closing price on March 16, 2005.
SAP America and Retek have signed an amendment to the merger agreement, modifying the offer price from $8.50 to $11.00. In addition, under the amended merger agreement the termination fee has been increased from $15 million to $25 million.
Headquartered in Minneapolis, MN, Retek provides an integrated retail application suite to more than 200 customers in more than 20 countries around the world. With 2004 annual revenue of $174.2 million and approximately 525 employees, Retek also has offices in Atlanta, London and Melbourne.
Nanogenerator consumes CO2 to generate electricity
Nice to see my my views being backed up by no less a figure than Sabine Hossenfelder https://youtu.be/QoJzs4fA4fo