Slaughter and May is advising Micro Focus International plc on a recommended cash acquisition of the entire issued and to be issued share capital of Micro Focus by Open Text Corporation

Slaughter and May is advising Micro Focus International plc on a recommended cash acquisition of the entire issued and to be issued share capital of Micro Focus by Open Text Corporation.

Under the terms of the acquisition, each Micro Focus shareholder will be entitled to receive 532 pence in cash for each Micro Focus share. The acquisition values the entire issued and to be issued share capital of Micro Focus at approximately £1.8 billion on a fully diluted basis and values Micro Focus at approximately £5.1 billion on an enterprise basis. It is expected to complete in the first quarter of 2023, subject to receipt of shareholder, antitrust and regulatory approvals.

Micro Focus is one of the world’s largest enterprise software providers addressing the technology needs and challenges of its customers globally. Micro Focus’s solutions help organisations leverage existing IT investments, enterprise applications and emerging technologies to address complex, rapidly evolving business requirements while protecting corporate information at all times. Micro Focus’s broad set of technology for security, IT operations, applications delivery, governance, modernisation and analytics provides innovative solutions that the world’s largest organisations need to run and transform concurrently.

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