Thoma Bravo To Acquire Medallia For $6.4B At 20% Premium, Berenberg Downgrades Stock To Hold

  • Software investment firm Thoma Bravo inked an agreement to acquire Medallia Inc MDLA in an all-cash transaction that values Medallia at $6.4 billion.
  • Medallia shareholders will receive $34 per share in cash, signifying a 20% premium to Medallia's Jun. 10 closing price, the last trading day before reports regarding a possible transaction.
  • It implies a 1.9% premium to Medallia's Friday closing price of $33.35.
  • Medallia will become a private company under the arrangement.
  • The transaction is likely to close in 2021.
  • Additionally, Berenberg analyst Brett Knoblauch downgraded Medallia to Hold from Buy after going private announcement.
  • Price action: MDLA shares traded higher by 1.08% at $33.71 on the last check Monday.
Posted In: BriefsM&ANewsDowngradesAnalyst RatingsTech