Squarespace and Permira Revise Agreement, Squarespace Raises Buyout Offer to $46.50 Per Share, Valuing Deal at $7.2B
Portfolio Pulse from Benzinga Newsdesk
Squarespace has revised its buyout offer with Permira, increasing the offer to $46.50 per share, valuing the deal at $7.2 billion. This represents a significant premium over previous prices and is structured as a tender offer.
September 09, 2024 | 11:20 am
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Squarespace has increased its buyout offer to $46.50 per share, valuing the deal at $7.2 billion. This represents a 5.7% increase over the previous offer and a significant premium over recent trading prices.
The revised buyout offer represents a significant premium over both the previous offer and recent trading prices, which is likely to positively impact the stock price in the short term. The unanimous approval by the board and agreement by existing shareholders further supports the likelihood of the deal's success.
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