SAP to buy Ariba for $4.3 billion
5/22/12 3:22 PM ET (MarketWatch)
BOSTON (MarketWatch) -- Ariba Inc. said Tuesday afternoon that it has agreed to be acquired by German software titan Sap AG for $4.3 billion in cash, or $45 a share. The offer represents a 20% premium over Ariba's closing price on Monday. The transaction is expected to close during the third quarter, pending Ariba shareholder approval. SAP plans to pay for the transaction with its free cash and a 2.4 billion euro term loan facility. Shares of Ariba were trading up 19.5% at $44.96 following the news. US-traded shares of SAP were nominally higher at $58.94.