In a move that doesn’t surprise anyone, Infor launched a takeover bid for Lawson Software. Infor CEO Charles Phillips found his first target, and with the offer at a 19% premium to the trailing 90 day Lawson stock price (and below Lawson’s current stock price) more negotiating is likely.
The average premium for completed software acquisitions in the past three years is 30.3 percent, Bloomberg data on deals over $1 billion show.
Lawson CEO Debes has been through this dance before (with JD Edwards acquisition by PeopleSoft then Oracle). Other potential Infor targets like Epicor or Microsoft Dynamics may be forced to counter this move.