Permira to buy Mimecast for about $5.8 billion in cash

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  • Permira will acquire all outstanding ordinary shares of Mimecast (NASDAQ:MIME) for $80.00 per share in an all-cash transaction that values Mimecast at an equity value of ~$5.8B.
  • The purchase price represents a premium of ~6.6% to Mimecast’s closing stock price on December 6, 2021. The price represents a 16% premium to MIME's share price in late October before a WSJ report that the company was said to be exploring a potential sale.
  • The agreement includes a 30-day “go-shop” period expiring on January 6, 2022.
  • The transaction is expected to close in the first half of 2022, subject to customary closing conditions, including approval by Mimecast shareholders and receipt of regulatory approvals.
  • Upon completion of the transaction, Mimecast (MIME) will become a privately held company and the ordinary shares will no longer be listed on any public market.

  • Citi is serving as exclusive financial advisor to Mimecast, and Goodwin Procter LLP is acting as legal counsel.

  • Previously (Oct. 28): Mimecast may be worth $80 to $118 a share in potential sale, analyst says.

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