Some PE firmed dubbed Thoma Bravo bought out software company QLIK today, in an all cash transaction, that didn’t even eclipse the recent highs for the stock. What sort of nonsense is this?
According to terms of the agreement announced Thursday, Qlik shareholders will get $30.50 in cash for each share of Qlik common stock they hold. The price is a 40 percent premium to the company’s unaffected 10-day average stock price prior to March 3.
Qlik shares rose 4.3 percent to $30.23 in early trading in New York. They are down 8.5 percent this year through Wednesday.
Bad deal.
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