Cvent Perhaps Worth Paying Up For
Thu, Nov. 17, 1:35 PM
- April 18: Cvent to be taken private in $1.65B deal
- The deal had been thrown into question as the U.S. Department of Justice sought to further examine and potentially block the deal. Regulators had prior issued a request for additional time to review, one Vista Equity Partners had denied.
- It's now reported that move has paid off, as the transaction has been cleared and is set to close on November 22.
Mon, Apr. 18, 8:13 AM
- Cvent (NYSE:CVT) agrees to be acquired by Vista Equity Partners for $1.65B in cash; trading is halted.
- The $36/share price represents a 69% premium over CVT's Friday closing price and a 70% premium to CVT's average closing price over the past 30 trading days.
- CVT will become a privately held company once the deal closes, which it expects to occur in Q3.