Oct. 27 at 7:56 PM
BlackLine Inc. shares rose Monday after a Bloomberg report said German software giant SAP SE had approached the financial software firm earlier this year with an acquisition proposal.
According to the report, which cited people familiar with the matter, SAP valued BlackLine in the high-
$60-per-share range. The California-based company reportedly rejected the offer, and there are currently no active talks between the two parties.
BlackLine, a provider of cloud-based accounting software, has drawn interest from several potential buyers, the report added. It remains unclear whether SAP will renew its acquisition efforts.
Shares of BlackLine gained on news of the takeover interest despite the company having turned down SAP’s reported offer.
BlackLine Inc. shares rose Monday after a Bloomberg report said German software giant SAP SE had approached the financial software firm earlier this year with an acquisition proposal.
$BL $SAP