Mergers & Antitrust Law News

Instructure Rejects Increased Thoma Bravo Offer, Delays Vote (2)

Feb. 13, 2020, 8:49 PM

Educational software company Instructure Inc. said its board has rejected an increased offer from Thoma Bravo and plans to put the original $2 billion takeover proposal from the private equity firm before a shareholder vote Friday.

Preliminary tallies showed Thoma Bravo failed to win the necessary majority support for its original bid of $47.60 a share in cash, Bloomberg News reported Thursday. Instructure said in a regulatory filing that the private equity firm then increased its bid to $48.50 a share, which was subsequently rejected by the board.

A representative for Thoma Bravo declined to comment.

The bid was rejected...

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