Salesforce, Demandware Receive All Required Regulatory Approvals

(RTTNews) - salesforce.com inc. (CRM) and Demandware (DWRE) announced that all required regulatory approvals have been received to complete the tender offer. The German Federal Cartel Office has granted clearance for the previously announced proposed transaction pursuant to which Salesforce intends to acquire Demandware.

Under the terms of the offer, Salesforce is offering $75.00 per share in cash for all outstanding shares of Demandware.

The tender offer is scheduled to expire at 12:00 midnight New York City Time, on Friday, July 8, 2016 (which is the end of the day on Friday, July 8, 2016), unless the tender offer is extended. With the tender offer completed, Salesforce expects the transaction to close in the second quarter of Salesforce's fiscal year 2017, ending July 31, 2016, subject to the satisfaction of customary closing conditions, including the acceptance of a majority of Demandware shares in the tender offer.

Following the successful completion of the tender offer, Demandware shares not tendered in the tender offer will be converted in a second step merger into the right to receive the same $75.00 per share in cash paid in the tender offer.