SoftwareOne Shareholders Want Board Fired Over Bain Rebuff (1)

SoftwareOne Holding AG’s founding shareholders called for the company’s board to be replaced after it rejected a 3 billion-franc ($3.5 billion) takeover offer from Bain Capital.

Daniel von Stockar, B. Curti Holding AG and René Gilli, which together own 29% of SoftwareOne, disagree with the decision to rebuff Bain, according to a statement Monday. They said the non-binding offer should have been presented to shareholders.

Shares of the Swiss software provider gained as much as 9.6%, the most since June, when Bain announced its takeover offer. ZKB analyst Christian Bader said in a note that a potential ...