Buyout Firms Team Up In $5B-Plus Bid To Buy New Relic: Report

  • Private equity companies Francisco Partners and TPG Inc TPG are reportedly interested in acquiring New Relic Inc NEWR.
  • Francisco Partners and TPG are working together on a $5 billion-plus bid to acquire software company New Relic, reported WSJ, citing people familiar with the matter.
  • According to the report, an agreement might be reached within two weeks. 
  • Also Read: Vice News Bankruptcy Bombshell: Media Giant's Stunning Collapse As $5.7B Valuation Evaporates
  • Recently, TPG announced the acquisition of alternative investment firm Angelo Gordon in a cash and equity transaction valued at ~$2.7 billion.
  • Price Action: NEWR shares closed higher by 10.8% at $83.84 on Wednesday.
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