The US Securities and Exchange Commission has formally accepted the S-4 Proxy Statement filed by Lawson Software Inc in relation to its proposed acquisition of Intentia International AB.
In declaring the Form effective, the SEC has cleared the way for Lawson to engage with its stockholders and arrange for distribution of the prospectus and a stockholder vote on the acquisition. A stockholder meeting has been scheduled for April 17.
The SEC declaration also means Lawson and Intentia can submit a Swedish prospectus to the Swedish Financial Supervisory Authority for approval and registration in Sweden. Once registered it can be distributed to non-US Intentia stockholders. The offer-acceptance period for Intentia stockholders to tender their shares is expected to close on April 24.
Lawson will be hoping to close the deal by the end of April. Failing that, it will have to extend the termination date for a second time.
The two companies announced their intention to join forces in June 2005 based on an all-stock deal worth approximately $480m.