Citrix Systems (CTXS) to be acquired by Vista Equity Partners and Evergreen Coast Capital for $104 per share

Citrix Systems to be acquired by affiliates of Vista Equity Partners and Evergreen Coast Capital, an affiliate of Elliott, for $16.5 bln; Citrix shareholders will receive $104.00 in cash/share

• Vista and Evergreen plan to combine Citrix and TIBCO Software, one of Vista's portfolio companies.
  

• Under the terms of the agreement, Citrix shareholders will receive $104.00 in cash per share. The per share purchase price represents a premium of 30 percent over the Company's unaffected 5-day VWAP as of December 7, 2021, the last trading day before market speculation regarding a potential transaction, and a premium of 24 percent over the closing price on December 20, 2021, the last trading day prior to media reports regarding a potential bid from Vista and Evergreen.
• In connection with the transaction, Vista and Evergreen intend to combine Citrix and TIBCO Software ("TIBCO"), one of Vista's portfolio companies. TIBCO is a global leader in enterprise data management, empowering its customers to connect, unify, and confidently predict business outcomes. The combination brings together Citrix's secure digital workspace and application delivery suite with TIBCO's real-time intelligent data and analytics capabilities to empower customers and users with the secure application and information access and insights they need to accelerate digital transformation and navigate the hybrid workplace.
• The transaction, which has been unanimously approved by the members of the Citrix Board of Directors voting on the matter, is expected to close mid-year, subject to customary closing conditions, including approval by Citrix shareholders and receipt of regulatory approvals. The transaction is not subject to a financing condition. Upon completion of the transaction, Citrix's shares will no longer trade on the Nasdaq, and Citrix will become a private company. Citrix will continue to operate under the Citrix name and brand, and will remain headquartered in Fort Lauderdale, FL.

Citrix Systems beats by $0.40, beats on revs

Reports Q4 (Dec) earnings of $1.47 per share, excluding non-recurring items, $0.40 better than the S&P Capital IQ Consensus of $1.07; revenues rose 5.0% year/year to $850.9 mln vs the $830.04 mln S&P Capital IQ Consensus.

Earnings this week : Jan 31 - Feb 4, 2022 (wk 5)

Monday (Jan 31)

• Morning:  AKTS ATKR CTXS OTIS TT
• Afternoon: AGNC ARE AXTA CBT CRUS CACC FN GGG HLIT HTLF HP JJSF KMPR KRC NXPI PCH SANM WWD

Tuesday (Feb 1)

• Morning: ALGM ARCB TECH BR CTLT ENTG EPD AQUA XOM BEN GFF HLNE IMO LII MAN MDC NVR PNR PBI PINC PHM SMG ST SIRI SWK UBS UPS WAT
• Afternoon:  AMD GOOG AMCR DOX APAM ASH CB EA EHC EQR GM GILD HMN IEX LFUS MANH MTCH MRCY MSTR OI PYPL PKI SBUX SMCI TENB UNM

Wednesday (Feb 2)

• Morning:  ABBV ATI ABC AVY BSX EAT BIP CHRW CPRI CRS GIB DHI DT EMR EVR RACE HWM HUM IDXX JCI MMP MPC MPLX NYT NVS ODFL ROP SAIA SBH SLAB SR SPR TMO VNE WNC WM
• Afternoon:  EGHT ADTN AFL ALGN ALGT ALL AVB BDN CCS CHNG CCMP CTSH CLB CTVA DXC ELF ESS FORM FBHS GL THG HI HOLX KLIC LNC MXL MCK FB MET MTG MAA MUSA NTGR OHI OMF QRVO QCOM RYN RRR RRX SITM SKY SPOT TMUS TTEK TBI UGI YELL

Thursday (Feb 3)

• Morning: ABB ABMD WMS AME APTV ARW AZEK BCE BDX BERY BIIB BV CAH CSII CG CHKP CI CMS COP CMI DLX LLY EL FTV GWW HAIN HBI HSY HON HUBB ITW INGR ICE JHG LANC LAZ LITE MMS MPW MRK MTOR MSGS NJR NOK NS PH PENN PBH DGX RL SNDR RDS.A SNA TKR TW VSAT VSTO WD WEC WRK XYL
• Afternoon: ATVI AMZN AINV AVTR BECN BHE BILL BYD CPT CDK CLX COLM CUZ DECK DLB ENVA EXPO F FTNT GPRO HIG LCI LESL LGF.A LPLA MCHP MIME MTX MWA NFG NWSA NLOK NOV OTEX PYCR PCTY PFSI PINS POST POWI PRU RGA SIGI SKX SKYW SWKS SNAP SYNA U VIAV WERN WWE

Friday (Feb 4)  

• Morning:  ADNT APD AON BMY BEP CBOE ROAD ETN REGN SNY SPB TWST

Earnings this week : Oct 23 - 27, 17 (wk 43)

LogMeIn (LOGM) to merge with Citrix’s (CTXS) GoToMeeting unit

• February 2017: LogMeIn completed a merger with GetGo, the corporate spin-off of the GoTo product line from Citrix Systems.

 

LogMeIn stock, after having been halted late in the regular session on rumors of a deal, surged by $13.32, or almost 19%, to $83.03, in late trading.

 

The following day

The deal, as described separately by LogMeIn and Citrix, is what’s known as a “Reverse Morris Trust” transaction, which is designed to avoid taxes for Citrix holders.

LogMeIn listed several benefits of the transaction, including combined revenue of $1 billion, and first-year “synergies” on costs of $65 million. LogMeIn chief Bill Wagner will maintain his current role for the combined entities.

LogMeIn said it would issue a special 50-cent-per-share dividend to its holders on August 26th, to holders of record as of August 8th.

Long trade : CTXS (7/16)

• 10 days later:

CTXS — NR

Long trade : CTXS (10/15)

Long trade : CTXS (Jan-March 2015)