SAP shares up 1.8 percent on bid talk: traders
LONDON |
LONDON (Reuters) - Shares in software maker SAP (SAPG.DE) extended gains and hit the day's high on Monday as traders cited market talk of bid interest from Microsoft (MSFT.O).
SAP declined comment.
By 8:30 a.m. EST, shares in SAP were up 1.8 percent at 35.6 euros, figuring among the top gainers in a flat German market .GDAXI. More than 5 million shares were traded in SAP compared with average full-day volume of nearly 8 million traded over the past 30 days.
SAP (SAPG.DE) last week said it expects to launch its 4.8 billion euro offer for Business Objects BOBJ.PA on December 4 after getting the final required regulatory approval.
The deal represents SAP's biggest acquisition and is a departure from its former strategy of organic growth.
(Additional reporting by Eva Kuehnen, Blaise Robinson and Hakan Ersen)
(Reporting by Anshuman Daga)
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