Arab Today, arab today micro focus ends takeover talks
Last Updated : GMT 18:31:22
Arab Today, arab today
Arab Today, arab today

Micro Focus ends takeover talks

Arab Today, arab today

Arab Today, arab today Micro Focus ends takeover talks

London - Arabstoday

British IT company Micro Focus International said it has called off takeover talks after bids for the business fell short of expectations and will now resume a share buyback programme. The firm, which supports mainframe computer applications for companies like Tesco, said in May it was exploring a number of approaches, including from US-based private equity firms Bain Capital and Advent International. \"The board set a deadline for final offers of August 19, 2011. Based on feedback now received from these parties, the board has terminated discussions and, as a result, Micro Focus is no longer in an offer period,\" it said. Earlier this month the firm posted better-than-expected first quarter trading. Last week Micro Focus\' shares rose after Hewlett-Packard\'s bid for Autonomy ignited interest in the industry.

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