Deutsche Balaton AG (DB:BBHK) made a takeover bid to acquire remaining 84.9% stake of EASY SOFTWARE AG (XTRA:ESY) for €24.8 million on March 11, 2019. Deutsche Balaton AG offered €4.9 per share to shareholder of EASY SOFTWARE. As of June 4, 2019, Deutsche Balaton AG increased the offer price to €5.4 per share.

As of April 23, 2019, management board and supervisory board as well as employee representatives of EASY SOFTWARE AG recommended not to accept the takeover offer of Deutsche Balaton AG stating the reason as offered consideration of Deutsche Balaton AG is not financially reasonable and it does not reflect the actual value of company. Freitag & Co. GmbH acted as financial advisor and fairness opinion provider to EASY SOFTWARE AG.