(Alliance News) - Micro Focus International PLC on Monday said that Open Text Corp has completed its debt financing commitments for Micro Focus's GBP5.1 million takeover.
At the end of August, Micro Focus agreed an all-cash acquisition by Canadian software firm Open Text. The offer valued Newbury, Berkshire-based enterprise software firm Micro Focus at around GBP5.1 billion on an enterprise value basis.
On Friday, as part of a customary commitment syndication process, OpenText, Barclays Bank PLC, BMO Capital Markets Corp, RBC Capital Markets LLC, and Citigroup Global Markets Inc entered into joinders to the engagement letter and the syndication letter with MUFG Securities Americas Inc, HSBC Securities (USA) Inc, PNC Capital Markets LLC, National Bank of Canada Financial Inc, and CIBC World Markets Corp.
Shares in Micro Focus were flat at 520.12 pence each in London on Monday afternoon.
By Sophie Rose; sophierose@alliancenews.com
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Barclays (BARC)