Brief: SAP-Retek waiting period over

The Federal Trade Commission is waiving an antitrust review of SAP's proposed acquisition of Retek, according to a corporate filing SAP made Tuesday.

SAP said it received a notice from the Federal Trade Commission terminating the waiting period relating to the...

company's offer to acquire Retek Inc., according to a filing with the Securities and Exchange Commission.

The waiting period was part of the U.S. government's antitrust review of SAP's proposed acquisition of Retek under the Hart-Scott-Rodino law.

Minneapolis-based Retek, a developer of software programs used in the retail industry, agreed to be acquired by SAP for about $496 million, or $8.50 per share.

Redwood Shores, Calif.-based Oracle, offered a counter bid for Retek last week, offering $9 per share for the company. Oracle is hoping to persuade Retek to reconsider SAP's offer.

SAP has said it needs to wait for Retek's board of directors to respond to Oracle's offer before it can decide to proceed with a higher offer. It is still unclear whether the two companies will enter into a bidding war for the software vendor.

Dig Deeper on SAP trends, strategy and ERP market share

PRO+

Content

Find more PRO+ content and other member only offers, here.

Start the conversation

Send me notifications when other members comment.

By submitting you agree to receive email from TechTarget and its partners. If you reside outside of the United States, you consent to having your personal data transferred to and processed in the United States. Privacy

Please create a username to comment.

-ADS BY GOOGLE

SearchManufacturingERP

SearchOracle

SearchDataManagement

SearchAWS

SearchBusinessAnalytics

SearchCRM

SearchContentManagement

SearchFinancialApplications

Close