Nutanix Weighs Strategic Options Following Takeover Proposal

Cloud-computing company Nutanix, Inc NTNX explored a sale after receiving takeover interest.
Nutanix will likely target private equity and industry players, the Wall Street Journal reported.
A buyer would likely have to pay a significant premium to Nutanix’s market value of nearly $5 billion amid the current market volatility and economic uncertainty.
Nutanix sported a market value of more than $9 billion in September 2021, but its shares have fallen by more than a third in 2022.
Nutanix regained some lost ground lately, soaring after reporting better-than-expected results and forecasts in late August.
Nutanix said fiscal fourth-quarter revenue decreased 1% year-over-year to $385.5 million, which beat average analyst estimates. The company reported a quarterly adjusted net loss of 17 cents per share, which beat average analyst estimates.
In September, Nutanix agreed to seek approval for a move to permit shareholders to vote annually for all board directors.
Price Action: NTNX shares traded higher by 16.1% at $24.56 in the premarket on the last check Friday.