Vista Equity Partners and Blackstone plan to acquire Smartsheet for $8.4B, offering $56.50/share, pending shareholder approval.
Vista Equity Partners and Blackstone Inc. plan to acquire Smartsheet Inc. for $8.4 billion, offering $56.50 per share. The deal includes a 45-day "go-shop" period for Smartsheet to consider other offers. The acquisition hinges on shareholder approval and is expected to close in the company's fiscal fourth quarter. Revised financing terms feature a higher interest rate and additional safeguards for lenders. Smartsheet will continue operating under its current brand post-acquisition.
September 24, 2024
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