Bottomline Technologies agrees to be taken private by Thoma Bravo for $2.6B

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• Bottomline Technologies (NASDAQ:EPAY) agrees to be acquired by investment firm Thoma Bravo in an all-cash deal valuing the payments technology company at $2.6B.
• Bottomline (EPAY) shareholders will get $57.00 per share in cash, reflecting a premium of ~42% to the stock's unaffected closing price on Oct. 19, the last full day of trading before the company's board announced it formed a strategy committee.
• The price is 17% higher than $48.92, EBA shares' closing price on Thursday.
• Bottomline's (EPAY) directors, including its CEO, and Clearfield Capital Management have agreed to vote their shares, 4% of EPAY's outstanding shares, in favor of the transaction.
• The transaction is expected to close in Q2 2022.
• Earlier this month, a Raymond James analyst figured Bottomline's (EPAY) could fetch as much as $71 per share.

Comments

[broke'er now]

so, when a public company goes private what do shareholders do? Sell to the Private Equity firm and take the premium? What if shareholders do not want to sell, how do they find buyers in the future for their shares in a private corporation

[ghijk]

@broke'er now You don't get to own shares in the private company. If the deal is greenlighted, you'll get the $57/share and that will be it.

[Fortunate One]

@broke'er now take the money and run…meanwhile pray that the deal goes through and count your lucky stars….and one more thing…put some cash aside for uncle Sam.