Cisco Systems Inc. announced today its acquisition of cybersecurity company Splunk Inc. in a deal valued at around $28 billion, marking its largest acquisition yet.
Cisco will pay $157 per share in cash. The deal represents roughly 10% of Cisco’s market value. Upon the closing of the deal, Splunk’s CEO Gary Steele will report to Cisco’s CEO Chuck Robbins and join its executive leadership team.
Simpson Thacher & Bartlett is acting as legal counsel, and Cravath, Swaine & Moore is acting as regulatory counsel to Cisco. The Simpson Thacher team is led by mergers and acquisitions partners Alan Klein and ...
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