Thoughtworks Agrees To Be Taken Private By Apax Funds For $4.40 Per Share, Which Implies Total Enterprise Value Of $1.75B
Portfolio Pulse from Benzinga Newsdesk
Thoughtworks has agreed to be taken private by Apax Funds for $4.40 per share, implying a total enterprise value of $1.75 billion. The purchase price represents a 30% premium to Thoughtworks' closing stock price on August 2, 2024, and a 48% premium over the volume weighted average price for the 30 days ending August 2, 2024.
August 05, 2024 | 11:11 am
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Thoughtworks has agreed to be taken private by Apax Funds for $4.40 per share, representing a 30% premium to its last closing price and a 48% premium over the 30-day average. This deal values Thoughtworks at $1.75 billion.
The acquisition by Apax Funds at a significant premium is likely to boost Thoughtworks' stock price in the short term as investors react positively to the premium offer. The deal also provides a clear exit strategy for current shareholders.
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