- Thoma Bravo pruned its Anaplan, Inc PLAN takeover offer after agreeing to resolve a disagreement regarding compliance with specific merger terms.
- Now Anaplan stockholders will receive $63.75 per share in cash, down from the original purchase price of $66.00 per share in cash.
- The revised agreement aimed to avoid the risk of lengthy litigation, provide increased closing certainty for its stockholders, and close on substantially the same timeline as originally agreed.
- The new offer price still implies a 26% premium to Anaplan's March 18 closing price of $50.59 before announcing the deal.
- The deal will likely close by June 30.
- Price Action: PLAN shares traded lower by 3.94% at $63.21 on the last check Monday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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