- LogMeIn (NASDAQ:LOGM) will be acquired by a group led by Francisco Partners and Elliott Management's Evergreen Coast Capital. LogMeIn will become a privately held company.
- The group will pay $86.05 per share in cash, which values LOGM at a $4.3B equity valuation.
- The purchase price represents a 25% premium to LogMeIn's closing price on September 18, the last trading day before the first M&A media report was published.
- The agreement includes a 45-day go-shop period. If LOGM doesn't accept another offer, the deal is expected to close in mid-2020.
- LOGM shares were halted ahead of the announcement.
- Post updated to correct wording of first bullet.