MarketWatch.com - MarketPulse
LONDON (MarketWatch) -- Private equity firm Kohlberg Kravis Roberts said Friday that it's agreed to buy U.K. business software company Northgate Information Solutions for 593 million pounds ($1.19 billion), or 95 pence a share. The deal is at a 40.5% premium to the average closing price for the month ended Dec. 11, the day before Northgate announced it had received an approach. It's also a 49% premium to the closing price of 63.75 pence on Thursday. KKR said it's acquired a 19.6% stake in the company through a deal with two major shareholders at the offer price and has received irrevocable undertaking to accept the deal from shareholders representing a further 0.3% of the shares.