Core Viewpoint - SAP, Europe's largest software provider, attempted to acquire BlackLine for nearly $4.5 billion but was rejected, and is now considering a new approach to negotiations [1][2][3] Group 1: Acquisition Details - SAP made a formal offer of $66 per share on June 18, representing a 31% premium over BlackLine's 60-day average price of $50.50 [2] - The acquisition would not require outside financing, indicating SAP's financial capability to close the deal independently [2] - BlackLine's major shareholders, including Clearlake Capital, Vanguard Group, and BlackRock, may influence the outcome of any potential sale [2][4] Group 2: Market Reaction - Following the news of SAP's initial offer, BlackLine's shares rose as much as 12% on the Nasdaq before closing 3.8% higher [4] - Analysts suggest that a revised offer in the "low to mid 70s" per share could increase the likelihood of acceptance from BlackLine [4] Group 3: Strategic Fit - Acquiring BlackLine could assist SAP in enhancing the adoption of its HANA cloud platform by simplifying customer data migration processes [5] - BlackLine's cloud-based software automates and manages complex financial and accounting processes, modernizing tasks traditionally performed on spreadsheets [6]