ClearBridge Investments Sends Letter Urging Board Of Directors Of Model N, Inc. To Reconsider Proposed Acquisition By Vista Equity Partners
Portfolio Pulse from Benzinga Newsdesk
ClearBridge Investments, holding 6.97% of Model N, Inc. (MODN), has urged the Board of Directors to reconsider the acquisition by Vista Equity Partners, arguing it undervalues the company. ClearBridge highlights Model N's strong positioning, successful SaaS transition, and potential for long-term growth, suggesting the offer does not reflect the company's true value. They propose exploring superior offers or remaining independent to maximize shareholder value.
April 15, 2024 | 8:01 pm
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ClearBridge Investments, a significant shareholder, opposes Vista Equity Partners' acquisition of Model N, suggesting the deal undervalues the company and advocating for reconsideration or exploration of better offers.
ClearBridge's opposition to the acquisition could lead to a reevaluation of the offer, potentially driving up the acquisition price or encouraging Model N to remain independent. This opposition highlights the perceived undervaluation of Model N by a significant shareholder, which could influence other shareholders' views and the market's perception of MODN's value.
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