Its Good to be Public

The ERP vendor acquisition season heated up today with Apax Partners acquisition of ERP vendors Epicor and Activant, to merged into a new privately held Epicore. For the Epicore shareholder the offer yeilds an 18.9% premium over the past 30 day average price, and a 34% premium over the average for the year. Compare these numbers to the 19% premium over 90 day average price offered Lawson shareholders by Infor, then consider that SAP and Oracle may need to counter these moves. Where does this put the remaining publicly held ERP vendors? Would their shareholders want this kind of premium?

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