SUSE Soars After EQT Agrees Take Private at €2.7 Billion Value

SUSE SAsurged as much as 60% after buyout firm EQT AB said it will take the German software developer private.

EQT, which holds roughly 79% of SUSE, said late on Thursday it will pay €16 a share for the stock it doesn’t already own. SUSE has agreed to support the offer, which represents a 67% premium to its last closing price and values the company at €2.7 billion ($2.9 billion).

SUSE shares were trading 59% higher at 9:11 a.m. in Frankfurt on Friday, lifting its market value to more than €2.6 billion.

The take-private comes little more than a ...