MariaDB shares are trading lower after Progress Software said it has no intention to make an offer for the company.
Portfolio Pulse from Benzinga Newsdesk
MariaDB shares are trading lower following an announcement by Progress Software that it has no plans to make an offer for the company.
May 03, 2024 | 10:48 am
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NEGATIVE IMPACT
MariaDB's stock price is experiencing a downturn after Progress Software announced it will not pursue an acquisition of the company.
The decline in MariaDB's stock price is a direct consequence of Progress Software's announcement to not pursue an acquisition. This news likely disappointed investors who may have anticipated a premium offer for MRDB, leading to a sell-off.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100