SailPoint Technologies shares jump on report of buyout deal

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Shares of Sailpoint Technologies Holdings Inc. soared 29.3% toward a 14-month high in premarket trading Monday, after the cybersecurity company confirmed an agreement to be acquired by private equity firm Thoma Bravo in a deal valued at $6.9 billion. The deal was first reported earlier by the Financial Times. Under terms of the deal, which is expected to close in the second half of 2022, Thoma Bravo will pay $65.25 for each Sailpoint share outstanding, which represents a 31.6% premium to Friday’s closing price of $49.59. The deal includes a “go-shop” period, until 11:59 p.m. Eastern on May 16, in which SailPoint can…

This article was originally published by Marketwatch.com. Read the original article here.

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