Smartsheet To Be Acquired By Blackstone, Vista In $8.4B Deal: Details
Portfolio Pulse from Lekha Gupta
Smartsheet Inc. (NYSE:SMAR) is set to be acquired by Blackstone Inc. (NYSE:BX) and Vista Equity Partners for $8.4 billion in cash. The acquisition price of $56.50 per share represents a significant premium over recent trading prices. The deal includes a 45-day 'go-shop' period for alternative proposals and is expected to close by January 31, 2025. Post-acquisition, Smartsheet will become a privately held company. Smartsheet recently reported strong earnings, surpassing estimates.
September 24, 2024 | 4:40 pm
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Blackstone is acquiring Smartsheet for $8.4 billion, indicating a strategic investment in Smartsheet's market-leading solutions. This move aligns with Blackstone's focus on technology investments.
The acquisition of Smartsheet by Blackstone is a strategic move to enhance its technology investment portfolio. This could positively impact BX's stock as it demonstrates growth and expansion in tech investments.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 80
POSITIVE IMPACT
Smartsheet is being acquired by Blackstone and Vista for $8.4 billion, offering a 41% premium over recent prices. The deal is expected to close by January 31, 2025, and will result in Smartsheet becoming a private company.
The acquisition by Blackstone and Vista at a premium price is likely to drive SMAR's stock price up in the short term as investors react to the premium offer. The unanimous board support and strong recent earnings further bolster investor confidence.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
POSITIVE IMPACT
Motley Fool Small-Cap Growth ETF holds Smartsheet, which is being acquired at a premium. This could positively impact the ETF's performance.
The acquisition of Smartsheet at a premium price is likely to positively impact the performance of ETFs holding SMAR, such as TMFS, as the value of their holdings increases.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 60
POSITIVE IMPACT
Managed Portfolio Series Tremblant Global ETF holds Smartsheet, which is being acquired at a premium. This could positively impact the ETF's performance.
The acquisition of Smartsheet at a premium price is likely to positively impact the performance of ETFs holding SMAR, such as TOGA, as the value of their holdings increases.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 60