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- Permira will acquire all outstanding ordinary shares of Mimecast (NASDAQ:MIME) for $80.00 per share in an all-cash transaction that values Mimecast at an equity value of ~$5.8B.
- The purchase price represents a premium of ~6.6% to Mimecast’s closing stock price on December 6, 2021. The price represents a 16% premium to MIME's share price in late October before a WSJ report that the company was said to be exploring a potential sale.
- The agreement includes a 30-day “go-shop” period expiring on January 6, 2022.
- The transaction is expected to close in the first half of 2022, subject to customary closing conditions, including approval by Mimecast shareholders and receipt of regulatory approvals.
Upon completion of the transaction, Mimecast (MIME) will become a privately held company and the ordinary shares will no longer be listed on any public market.
Citi is serving as exclusive financial advisor to Mimecast, and Goodwin Procter LLP is acting as legal counsel.
- Previously (Oct. 28): Mimecast may be worth $80 to $118 a share in potential sale, analyst says.