Micro Focus, one of the world's top enterprise software vendors,

is being acquired by OpenText. It's a $6 billion deal.

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According to OpenText, it will acquire Micro Focus for $6.30 in cash per share.

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This represents a premium of about 99% over Micro Focus' Thursday closing price and

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gives the business a market valuation of approximately $2 billion.

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The deal is expected to finalise in the first quarter of 2023,

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subject to certain conditions being satisfied.

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According to its most recent financial report, Micro Focus has $4.4 billion in debt on its balance sheet.

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The purchase will be funded by $4.6 billion in new debt from OpenText,

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$1.3 billion in cash, and $600 million from its current revolving credit facility.

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