Lawson Shareholders OK $2B Sale to Infor
Shareholders of St. Paul-based Lawson Software, Inc., on Wednesday voted to approve the company's sale to GGC Software Holdings, Inc., an affiliate of Infor and Golden Gate Capital.
Lawson said that the merger agreement-through which Infor will pay $11.25 per share for Lawson-was approved by almost 70 percent of the total number of the company's shares, and by more than 98 percent of the shares voted.
Lawson confirmed that it had received a bid from Infor in March, valued at about $2 billion. Some analysts predicted that Infor's bid would get trumped by a higher offer, most likely from Oracle.
But on April 26, Lawson announced that it had accepted Infor's buyout offer, stating that the offer was the best the company received.
Lawson, one of Minnesota's 40-largest public companies based on revenue, has said that it expects the merger to be completed during the third quarter of this year, but an exact closing date was not announced on Wednesday.