Why Anaplan Shares Are Dropping Today

Author: Anusuya Lahiri | June 06, 2022 11:30am

• Thoma Bravo pruned its Anaplan, Inc (NYSE:PLAN) takeover offer after agreeing to resolve a disagreement regarding compliance with specific merger terms.
• Now Anaplan stockholders will receive $63.75 per share in cash, down from the original purchase price of $66.00 per share in cash.
• The revised agreement aimed to avoid the risk of lengthy litigation, provide increased closing certainty for its stockholders, and close on substantially the same timeline as originally agreed. 
• The new offer price still implies a 26% premium to Anaplan's March 18 closing price of $50.59 before announcing the deal.
• The deal will likely close by June 30.
• Price Action: PLAN shares traded lower by 3.94% at $63.21 on the last check Monday.

Posted In: PLAN