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Ariba shareholders approve SAP deal

NewsAnna Bowsher, Reseacher30.08.2012 Comments (0)Bookmark

Ariba has said that its shareholders have approved SAP’s $4.59bn takeover of the company, proposed in May. The deal that is expected to be finalised in the fourth quarter of this year.

According to the company, Ariba’s shareholders approved the deal in a meeting on Wednesday and the announcement clears one more hurdle for the completion of the deal. However, before it can be finalised, it must be approved by the US Department of Justice which earlier this year asked for further information and the companies are therefore still waiting for this approval.

Ariba, SAP, acquisition, shareholders, US Department of Justice, takeover

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