Thoma Bravo cuts takeover offer for software firm Anaplan to $9.6 billion
Reuters
Published Jun 06, 2022 08:19AM ET
Updated Jun 06, 2022 08:41AM ET
(Reuters) -Anaplan Inc said on Monday private-equity firm Thoma Bravo had trimmed its takeover offer to $9.60 billion, after the software maker agreed to resolve a disagreement regarding compliance with certain merger terms.
The company's shares, which have risen nearly 44% this year, were down about 4% in premarket trading.
"The Anaplan (NYSE:PLAN) board agreed, after extensive consideration, to revise the merger agreement to avoid the risk of lengthy litigation over the disagreement," the company said in a statement.
Anaplan shareholders will now receive $63.75 per share, compared with the previous offer of $66. The offer price is still at a premium of 26% to Anaplan's closing price before the deal was announced in March.
The deal is expected to close by June 30.
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Written By: Reuters
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