Collaboration software firm Smartsheet announced that Blackstone and Vista Equity Partners will acquire it in an all-cash deal valued at over $8 billion. Shareholders will receive over $56 per share, reflecting a nearly 40% premium to Smartsheet's average closing price over the last three months. The deal includes a 45-day go-shop period, allowing Smartsheet to consider other offers. The transaction is expected to close by January 2025, subject to shareholder approval. Smartsheet shares rose 6% following the announcement.
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00:00It's Benzinga, and here's what's on the block.
00:02Collaboration software firm Smartsheet announced that Blackstone and Vista Equity Partners
00:07will acquire it in an all-cash deal valued over $8 billion.
00:12Shareholders will receive over $56 per share, reflecting a nearly 40% premium to Smartsheet's
00:17average closing price over the last three months.
00:20The deal includes a 45-day go-shop period, allowing Smartsheet to consider other offers.
00:25The transaction is expected to close by January 2025, subject to shareholder approval.
00:30Smartsheet shares rose 6% following the announcement.