Thoma Bravo cuts takeover offer for software firm Anaplan to $9.6bn

Anaplan said that private-equity firm Thoma Bravo had trimmed its takeover offer to $9.60bn, after the software maker agreed to resolve a disagreement regarding compliance with certain merger terms.

The company’s shares, which have risen nearly 44% this year, were down about 4% in premarket trading.

“The Anaplan board agreed, after extensive consideration, to revise the merger agreement to avoid the risk of lengthy litigation over the disagreement,” the company said in a statement.

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Anaplan shareholders will now receive $63.75 per share, compared with the previous offer of $66. The offer price is still at a premium of 26% to Anaplan’s closing price before the deal was announced in March.

Anaplan is a transformative way to see, plan, and run your business. Using our proprietary Hyperblock® technology, Anaplan lets you contextualize real-time performance, and forecast future outcomes for faster, confident decisions.

Anaplan enables connected strategy and planning across your enterprise to move your business forward. Based in San Francisco, Anaplan has over 175 partners and more than 1,900 customers worldwide. 

 Thoma Bravo is one of the largest private equity firms in the world, with more than $114bn in assets under management as of March 31, 2022. The firm invests in growth-oriented, innovative companies operating in the software and technology sectors.

Leveraging the firm’s deep sector expertise and proven strategic and operational capabilities, Thoma Bravo collaborates with its portfolio companies to implement operating best practices, drive growth initiatives and make accretive acquisitions intended to accelerate revenue and earnings. Over the past 20 years, the firm has acquired or invested in more than 380 companies representing over $190 billion in enterprise value. 

Source: Reuters

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