Attorneys for Anaplan Inc.investors and the software company’s former senior leaders sparred Tuesday over language in the $10.4 billion merger agreement that governs new employee compensation.
Anaplan and Thoma Bravo LP, a technology-focused private equity firm, agreed to an initial offer of $66 per share in March 2022.
Before finalizing the deal, Anaplan continued normal business operations—including hiring and offering equity grants to those new employees—because the company believed the deal’s language hadn’t explicitly addressed new hires, said Edward Micheletti of Skadden, Arps, Slate, Meagher & Flom LLP, an attorney for Anaplan’s ex-CEO Frank Calderoni ...
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