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Tuesday, April 26, 2011

Lawson Software to be taken private in deal worth $2 bln

Lawson Software Inc said it agreed to be bought by privately-held GGC Software Holdings Inc in a cash deal that values the business software maker at $2 billion. GGC Software, an affiliate of Golden Gate Capital and privately-held software company Infor, will pay $11.25 per Laswon share, a discount of about 7 percent to Lawson's Monday close on Nasdaq. Lawson's board unanimously approved the deal, which is expected to close in the third quarter. The deal has fully committed debt financing from Credit Suisse, Bank of America Merrill Lynch, Morgan Stanley, Royal Bank of Canada and Deutsche Bank, Lawson said in a statement.