News Column

United Kingdom : Cash offer from Hyland Software UK

June 19, 2014

Hyland Software UK Ltd. ( Hyland UK ), a company controlled by Hyland Software, Inc. ( Hyland ), has today 18 June 2014 announced a cash offer to the shareholders of ReadSoft AB (publ) ( ReadSoft ) to transfer all shares in ReadSoft to Hyland UK at a price of SEK 42.86 in cash per share in ReadSoft (the Offer ).

Hyland UK has stated that an offer document is expected to be made public shortly before the commencement of the acceptance period around 11 July 2014. Further, Hyland UK has stated that the acceptance period is expected to end around 5 September 2014.

It follows from Hyland UK s press release that shareholders in ReadSoft, together holding 934,254 class B shares, corresponding to about 3.1 per cent of all outstanding shares in ReadSoft, have pursuant to agreements with Hyland UK, unconditionally and irrevocably undertaken to accept the Offer.

ReadSoft s board of directors intends to not later than two weeks prior to the expiry of the acceptance period announce its opinion of the Offer, and reasons for this opinion.

On 6 May 2014, Lexmark International Technology, S.A. ( Lexmark International Technology ), a company controlled by Lexmark International Inc., announced a public cash offer to the shareholders of ReadSoft of SEK 40.05 per share. The acceptance period for Lexmark International Technology s offer commenced on Friday 23 May 2014 and ends on Monday 23 June 2014.

Information on the terms and conditions for Lexmark International Technology s offer may be found in the offer document made public by Lexmark International Technology on 21 May 2014. The offer document also includes the transaction agreement entered into between ReadSoft and Lexmark International Technology comprising certain provisions regarding competing bids.

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: TendersInfo (India)

Story Tools Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters