OpenText Receives All Regulatory Approvals For Acquisition Of Micro Focus

(RTTNews) - OpenText (OTEX, OTEX.TO) said that it has received all regulatory approvals for the proposed acquisition of Micro Focus International plc (MCRO.L). The acquisition is expected to close on January 31, 2023.

In August 2022, OpenText and Micro Focus reached agreement on the terms of a recommended cash acquisition to be made by OpenText, through its subsidiary, Bidco, of the entire issued and to be issued share capital of Micro Focus.

Each Micro Focus shareholder would be entitled to receive 532 pence in cash per Micro Focus share. The acquisition values Micro Focus at about 1.8 billion pounds on a fully diluted basis or 5.1 billion pounds on an enterprise value basis.