Stamps.com said it will be acquired by private equity firm Thomas Bravo in a full cash transaction that values Stamps.com at around $ 6.6 billion.
Shareholders of Stamps.com will receive $ 330 in cash per share. This is 67% above Thursday’s closing price of $ 197.72.
When the transaction is completed, Stamps.com, E-commerce delivery software company, Become a private company. Stamps.com said it will benefit from the operational capabilities, capital support and sector expertise of Thomas Bravo, a software and technology investor.
Stamps.com said the board unanimously approves the agreement and encourages shareholders to vote in favor of the agreement at a special meeting convened.
This agreement includes a 40-day “go shop” period until August 18. This allows the board and its advisors to initiate, request, and consider alternative takeover offers from third parties.
Stamps.com Acquired by Thomas Bravo for $ 6.6 Billion Cash Transaction
Source link Stamps.com Acquired by Thomas Bravo for $ 6.6 Billion Cash Transaction