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OpenText Receives All Regulatory Approvals with Expected Closing on January 31, 2023
WATERLOO, ON, Dec. 22, 2022 /PRNewswire/ -- OpenText™ (NASDAQ:OTEX), (TSX:OTEX) announced jointly with Micro Focus International plc (LSE: MCRO) today that all regulatory conditions pertaining to the all-cash offer by OpenText, through its wholly-owned subsidiary, Open Text UK Holding Limited (Bidco), to acquire the entire issued and to be issued share capital of Micro Focus as announced on August 25, 2022 (the Acquisition), have now been satisfied. Subject to the Court sanctioning the Scheme, which is expected to occur on January 27, 2023, the Acquisition is expected to close on January 31, 2023.
The joint announcement, a copy of which is available at https://www.microfocus.com/en-us/investors, contains an updated timetable to close the Acquisition. Full details and the terms and conditions of the Acquisition can be found at https://investors.opentext.com.
"With the shareholder approval received, successful financing completed and now, all regulatory conditions satisfied, we have a clear path towards closing the Acquisition," said OpenText CEO & CTO Mark J. Barrenechea. "We are excited to welcome Micro Focus customers, partners and employees to the OpenText family and helping our customers create the digital fabrics of the future."
