LAWFUEL- Law News – Davis Polk & Wardwell is advising Software AG on its acquisition of webMethods, Inc. webMethods provides business integration software that integrates, assembles and optimizes information technology assets to drive business process productivity. Headquartered in Darmstadt, Germany, Software AG is a global leader in mission-critical software infrastructure solutions based on open standards.
According to the terms of the transaction, Software AG will acquire webMethods through a cash tender offer for $9.15 per share, or approximately $546 million. The transaction is expected to be completed in the second quarter of 2007 and is subject to customary closing conditions, including regulatory clearances.
The Davis Polk corporate team includes partner Martin A. Wellington and associates Mischa Travers and Christopher Pan, all of the Menlo Park office, partner Patrick S. Kenadjian of the Frankfurt office and partner Peter R. Douglas and associates Waqaas Fahmawi and Joanna A. McGinley (not yet admitted), all of the New York office. Partner Harry Ballan and associates Gregory T. Hannibal and M. Ryan LaRosa, all of the New York office, are providing tax advice. Partner Barbara Nims and associate Ron M. Aizen, both of the New York office, are providing employment advice. Partner Arthur J. Burke of the Menlo Park officer and associate Stephen M. Pepper of the New York office are providing antitrust advice. Counsel Margaret M. Ayres and associate Bethany K. Hipp, both of the Washington, D.C. office, are providing Exon-Florio advice. The intellectual property team includes partner Steven S. Weiner of the Menlo Park office and associate Stefan Quick (not yet admitted) of the New York office. Mathew Cohen of the New York office is the legal assistant for the transaction.