The bidding war is on. SAP has gone up to $11 per share in its bid to takeover Retek. This makes their offer 22 percent higher than Oracle’s previous counterbid of $9 per share. Retek has recommended to investors accepting SAP’s offer, which includes a termination fee of $25 million if they walk away from the deal.
Oracle has not yet commented on SAP’s latest offer, or whether a counter offer is in the works. read article.