SiliconBeat

The bidding for SumTotal Systems went even higher Monday when the company amended its merger agreement with Accel-KKR to raise the proposed purchase price by a dollar a share from $3.80 to $4.80, according to a regulatory filing made today. That’s 30 cents higher than the counter bid made by Vista Equity, which set the whole bidding war in motion April 3 when it first made an unsolicited offer to buy the Mountain View developer of training and personnel software for $3.25 a share. Vista raised its bid last week to $4.50.

SumTotal, which had been free to solicit higher bids under its original merger agreement with Accel-KKR, has now committed itself to paying Read the rest of this entry »

Vista Equity, which first proposed buying personnel software developer SumTotal Systems for $3.25 on April 3, raised its bid to $4.50 a share Wednesday to counteract the $3.80 per-share offer made by Accel-KKR three weeks later.

Under the terms of that offer, which SumTotal accepted, the company could search out Read the rest of this entry »