Bidding War: Hyland Ups Bid for Sweden's Readsoft Vs. Lexmark

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Bidding War: Hyland Ups Bid for Sweden's Readsoft Vs. Lexmark

 user admin 2014-07-08 at 11:20:03 am Views: 359
  • #3303

    Bidding War: Hyland Ups Bid for Sweden's Readsoft Vs. Lexmark
    STOCKHOLM: Business software firm Hyland said that it had raised its bid for Sweden's Readsoft, topping a bid from US printer maker Lexmark.

    Hyland Software was offering 45 crowns in cash per share in Readsoft, 5% above the 43 crowns offered by Lexmark on June 19, the privately held firm said, valuing Readsoft at 1.38 billion Swedish crowns ($201.36 million).

    US-based Hyland added that it now controlled 10.9% of Readsoft shares.
    http://fixingtheeconomists.files.wordpress.com/2014/03/bidding.jpg

    Hyland had previously bid 42.86 crowns per share for the Swedish firm, subsequently topped by Lexmark with a bid unanimously recommended by the Readsoft board.

    Shares in Readsoft rose 4.6% to 46 crowns by 0800 GMT, indicating market expectations of a continued takeover battle for Readsoft, which supplies business software for invoicing and processing sales orders.
    http://payablesplace.ardentpartners.com/wp-content/uploads/2014/07/ReadSoftWar.jpg