MFGP - OpenText to acquire Micro Focus International for 532 pence/share

• OpenText ( NASDAQ: OTEX ) through its wholly-owned subsidiary, OpenText UK Holding acquires the entire issued and to be issued share capital of Micro Focus ( NYSE: MFGP ) at a price of 532 pence/share, implying an enterprise value of ~$6B.
• Upon completion of the acquisition, OpenText will be one of the world's largest software and cloud businesses with a tremendous marquee customer base, global scale and comprehensive go-to-market.
• Micro Focus brings meaningful revenue and operating scale to OpenText, with a combined total addressable market of $170B.
• "We expect Micro Focus to be immediately accretive to our adjusted EBITDA." said OpenText CEO & CTO Mark J. Barrenechea.
• All-cash consideration for the Acquisition to be funded by $4.6B in new debt, $1.3B in cash, and a $600M draw on existing revolving credit facility.
• MFGP +95.21% premarket to $6.11.

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