Court sanction for £90m takeover of software company

The £90m acquisition of listed software firm Sanderson by US enterprise solutions business Aptean has today been granted court approval.

Sanderson, is Coventry-headquartered and has a large number of employees based at its Sheffield office. The acquisition deal was first announced at the beginning of last month and the deal is now expected to take effect from 9 September 2019.

Dealings in Sanderson Shares will be suspended at 7.30am on 9 September 2019 and subsequently Sanderson Shares will be cancelled from admission to trading on AIM at 7am on 10 September 2019.

As reported last month, Aptean said its acquisition would provide it with a “critical entry-point into the UK market”, building upon its leading position in the US market.

Schofield Sweeney advised Sanderson Group in connection with the takeover.

Orrick, Herrington & Sutcliffe (UK) was legal adviser to Aptean Bidco and Aptean. N+1 Singer was Financial Adviser, Nominated Adviser and Corporate Broker to Sanderson.