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

Private equity companies Francisco Partners and TPG Inc (NASDAQ:TPG) are reportedly interested in acquiring New Relic Inc (NYSE: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.
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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.