SAP ups Retek Bid to Thwart Oracle

Mar 18, 2005 / By Paul Vallee

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The bidding war is on. SAP has gone up to $11 per share in its bid to takeover Retek. This makes their offer 22 percent higher than Oracle’s previous counterbid of $9 per share. Retek has recommended to investors accepting SAP’s offer, which includes a termination fee of $25 million if they walk away from the deal.

Oracle has not yet commented on SAP’s latest offer, or whether a counter offer is in the works. read article.

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