Splunk Announces Expiration Of Hart-Scott-Rodino Waiting Period For Proposed Transaction With Cisco
Portfolio Pulse from Benzinga Newsdesk
Splunk Inc. has announced the expiration of the Hart-Scott-Rodino waiting period for its acquisition by Cisco for $157 per share in cash. The merger is still subject to other closing conditions, including antitrust and foreign investment law approvals and Splunk stockholder approval. The expected completion is by the end of Q3 2024.
November 14, 2023 | 1:24 pm
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POSITIVE IMPACT
Cisco's proposed acquisition of Splunk has passed the HSR waiting period, indicating progress in the regulatory process. The acquisition is still pending other approvals and is expected to be finalized by the end of Q3 2024.
Cisco's progress in the acquisition of Splunk is likely to be viewed positively by the market as it suggests a smooth regulatory process. However, the impact on Cisco's stock may be less pronounced than on Splunk's due to the larger size and diversified nature of Cisco's business.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
The expiration of the HSR waiting period is a positive step towards the completion of Splunk's acquisition by Cisco. The deal is expected to close by Q3 2024, pending further approvals and stockholder consent.
The expiration of the HSR waiting period is a significant regulatory milestone that typically leads to a positive market reaction as it reduces the uncertainty surrounding the completion of the acquisition. However, the deal is still subject to other approvals, which maintains some level of uncertainty.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100