Buyout Firms Team Up In $5B-Plus Bid To Buy New Relic: Report
Portfolio Pulse from Akanksha Bakshi
Private equity firms Francisco Partners and TPG Inc are reportedly working on a joint $5 billion-plus bid to acquire software company New Relic Inc. An agreement might be reached within two weeks.
May 18, 2023 | 12:36 pm
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POSITIVE IMPACT
New Relic Inc's stock price may rise in the short term due to the reported $5 billion-plus acquisition bid by Francisco Partners and TPG Inc.
The news of a potential acquisition at a significant valuation can lead to increased investor interest and demand for the stock, driving the price higher in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
NEUTRAL IMPACT
TPG Inc's stock price may be affected by its joint bid with Francisco Partners to acquire New Relic Inc for over $5 billion.
The acquisition bid may have mixed effects on TPG's stock price. While it shows the company's growth strategy, the high valuation and potential risks associated with the acquisition may cause uncertainty among investors.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100