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OpenText Corp Enters Into Agreement to Acquire GXS

Tuesday, 5 Nov 2013 07:30am EST 

Open Text Corporation announced that it has entered into an agreement and plan of merger to acquire GXS Group, Inc pursuant to which GXS will become a wholly-owned subsidiary of OpenText. Purchase price is of $1.165 Billion with Financing commitment of $800 million in Debt, $265 million in Cash. The total enterprise value of the transaction is $1.165 billion. OpenText will pay an aggregate of $1.065 billion in cash and $100 million aggregate amount of OpenText common shares, in accordance with the terms of the Merger Agreement. Of the cash consideration to be paid to the GXS stockholders, $60 million is subject to escrow related to certain representations, warranties and covenants and the total consideration payable by OpenText is subject to adjustment based on GXS's working capital and other considerations as of the closing. The transaction is expected to close during OpenText's third fiscal quarter and is subject to customary regulatory approvals and closing conditions. 

Company Quote

-0.48 -0.87%
1 Oct 2014