Alteryx, Inc. AYX has agreed to be acquired by private equity firms Clearlake Capital Group, L.P., and Insight Partners for ~$4.4 billion, including debt, to transition into a privately held entity.
Under the agreement, shareholders of Alteryx will receive a cash payment of $48.25 for each share. This offer marks a substantial 59% premium over the company's stock price before public speculation of a sale (September 5, 2023).
The transaction, endorsed by Alteryx's Board of Directors and an independent Special Committee, is slated for completion in the first half of 2024.
The deal awaits approval from Alteryx shareholders and regulatory authorities. Notably, Dean Stoecker, who holds about 49% of the voting power in Alteryx, has agreed to support the transaction.
Price Action: AYX shares are trading lower by 2.08% at $47.04 on the last check Monday.
Disclaimer: This content was partially produced with the help of AI tools and was Reviewed And Published By Benzinga Editors.
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