Buyout Firms Team Up In $5B-Plus Bid To Buy New Relic: Report

May 18, 2023 8:36 AM | 1 min read |

Private equity companies Francisco Partners and TPG Inc TPG are reportedly interested in acquiring New Relic Inc NEWR.
Francisco Partners and TPG are working together on a $5 billion-plus bid to acquire software company New Relic, reported WSJ, citing people familiar with the matter.
According to the report, an agreement might be reached within two weeks.
Also Read: Vice News Bankruptcy Bombshell: Media Giant's Stunning Collapse As $5.7B Valuation Evaporates
Recently, TPG announced the acquisition of alternative investment firm Angelo Gordon in a cash and equity transaction valued at ~$2.7 billion.
Price Action: NEWR shares closed higher by 10.8% at $83.84 on Wednesday.

Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.