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

July 26, 2021 12:15 PM | 1 min read | Make a Comment

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.