Why Anaplan Shares Are Dropping Today

June 6, 2022 11:30 AM | 1 min read | Make a Comment

Thoma Bravo pruned its Anaplan, Inc PLAN takeover offer after agreeing to resolve a disagreement regarding compliance with specific merger terms.
Now Anaplan stockholders will receive $63.75 per share in cash, down from the original purchase price of $66.00 per share in cash.
The revised agreement aimed to avoid the risk of lengthy litigation, provide increased closing certainty for its stockholders, and close on substantially the same timeline as originally agreed.
The new offer price still implies a 26% premium to Anaplan's March 18 closing price of $50.59 before announcing the deal.
The deal will likely close by June 30.
Price Action: PLAN shares traded lower by 3.94% at $63.21 on the last check Monday.