Thoma Bravo cuts takeover offer for software firm Anaplan to $10.4 billion (June 6)
Reuters
Published Jun 08, 2022 11:22AM ET
(This June 6 story corrects headline and first paragraph to say the revised deal is valued at $10.4 billion, not $9.6 billion)
(Reuters) - Anaplan (NYSE:PLAN) Inc said on Monday private-equity firm Thoma Bravo had trimmed its takeover offer to $10.4 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 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.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.