Germany’s SAP mulls new bid for software firm BlackLine

SAP, Europe’s largest software provider, offered to buy accounting software firm BlackLine for nearly $4.5 billion in June but was rebuffed and is now considering a new approach, according to a copy of the offer letter reviewed by Reuters and a person familiar with the matter.

The German software giant, which is working with JPMorgan on the deal, submitted a formal, non-public offer of $66 per share on June 18, but BlackLine wasn’t interested in a deal and rejected the advance, according to the letter and person familiar with the talks.