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.

-=LogMeIn (LOGM) to be acquired for $86.05 per share

• Update Mon 8/31/20 : LogMeIn go-private acquisition by Francisco Partners and Evergreen Coast Capital completed.

LogMeIn to be acquired by affiliates of Francisco Partners and Evergreen Coast Capital for $86.05 per share in cash

Under the terms of the Agreement, LogMeIn shareholders will receive $86.05 in cash for each share of LogMeIn's common stock they hold. This consideration represents a premium of approximately 25% to LogMeIn's unaffected closing stock price on September 18, 2019, the last trading day before a media report was published speculating about a potential sale process. The all-cash transaction values LogMeIn at an aggregate equity valuation of approximately $4.3 billion. The Board of Directors of LogMeIn approved the Agreement and recommended that shareholders vote in favor of the transaction. The transaction is expected to close in mid-2020, subject to customary closing conditions, including the receipt of stockholder and regulatory approvals.

The definitive agreement for the transaction includes a customary 45-day "go-shop" period which permits LogMeIn and its advisors to actively solicit alternative acquisition proposals, and potentially enter negotiations with other parties that make alternative acquisition proposals. LogMeIn will have the right to terminate the definitive agreement to accept a superior proposal subject to the terms and conditions of the definitive agreement. There can be no assurance that this process will result in a superior proposal, and LogMeIn does not intend to disclose developments with respect to the solicitation process unless and until its Board of Directors makes a determination requiring further disclosure.