SAP Extends $6B Sybase Offer While Awaiting EU OK

Law360, New York (July 2, 2010, 10:53 AM EDT) -- Business management software maker SAP AG extended its $5.8 billion offer for database software company Sybase Inc. on Friday because the European Union's antitrust regulator has yet to sign off on the deal.

The German technology company said it pushed the deadline for its cash tender offer until July 16 and could extend it further if necessary. The $65 per share offer had originally been scheduled to expire Thursday night, but the European Commission has not yet cleared the transaction under EU merger regulations, SAP said....
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