September 30, 2014 (Shareholders Foundation) - An investor, who currently holds shares of Concur Technologies, Inc. (NASDAQ:CNQR), filed a lawsuit in effort to halt the proposed takeover of Concur Technologies, Inc. by SAP SE for $129 per share.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ:CNQR stockholders by agreeing to sell Concur Technologies, Inc. too cheaply via an unfair process to SAP SE

On September 18, 2014, SAP SE (NYSE: SAP) and Concur Technologies, Inc. (NASDAQ: CNQR) announced that SAP’s subsidiary, SAP America, Inc., has entered into an agreement to acquire Concur Technologies, Inc. Under the terms of the proposed transaction Concur Technologies, Inc shareholders will receive $129 per NASDAQ:CNQR share.

However, the plaintiff claims that the offer is too low and undervalues Concur Technologies, Inc. Indeed, at least one analyst has set the high target price for NASDAQ:CNQR shares at $130.00 per share. Furthermore, Concur Technologies, Inc. reported that its Total Revenue rose from $292.94 million for the 12 months period that ended on Sept. 30, 2010 to $545.80 million for the 12 months period that ended on Sept. 30, 2013. Shares of Concur Technologies, Inc. (NASDAQ:CNQR) grew from $34.50 per share in August 2011 to as high as $127.01 per share in February 2014. In addition, the plaintiff claims that the process is also unfair to NASDAQ: CNQR stockholders. In addition the plaintiff says that the merger agreement contains preclusive deal protection devices, such as no solicitation, a matching rights, and a hefty $265 million termination fee provision. that make the proposed transaction a fait accompli and ensure that no competing offers with emerge for Concur Technologies, Inc.