All-Cash Deal with Go-Shop Provision

  • Smartsheet is being acquired by Blackstone and Vista Equity Partners in an $8.4 billion deal
  • The transaction is an all-cash acquisition
  • Shares of Smartsheet increased by 6.26% after the announcement
  • A ‘go-shop’ provision allows for competing bids until Nov. 8
  • The deal is expected to close in Q4 FY2025 (ends Jan. 31)
  • Smartsheet’s board recommends shareholders vote in favor of the acquisition

Smartsheet, a work-management software company, has agreed to be acquired by private equity firms Blackstone and Vista Equity Partners in an all-cash transaction valued at $8.4 billion. The deal includes a ‘go-shop’ provision that allows for competing bids until November 8th. If completed, Smartsheet shares will be taken off the market.

Factuality Level: 8
Factuality Justification: The article provides accurate information about the acquisition of Smartsheet by Blackstone and Vista Equity Partners, including details such as the transaction value, share price, and the approval from Smartsheet’s board. It also mentions the ‘go-shop’ provision and expected closing date. However, it lacks some context or background information on Smartsheet and the acquiring companies, which could make it slightly less informative for readers unfamiliar with the subject.
Noise Level: 3
Noise Justification: The article provides relevant information about the acquisition of Smartsheet by Blackstone and Vista Equity Partners, including the deal’s terms and the company’s recommendation for shareholders to vote in favor. However, it lacks analysis or exploration of long-term trends or consequences, scientific rigor, and actionable insights.
Public Companies: Smartsheet (SMAR)
Private Companies: Blackstone,Vista Equity Partners
Key People: Dean Seal (Writer)

Track all markets on TradingView

Financial Relevance: Yes
Financial Markets Impacted: Smartsheet, Blackstone, Vista Equity Partners
Financial Rating Justification: The article discusses an acquisition deal of Smartsheet by Blackstone and Vista Equity Partners in an all-cash transaction valued at $8.4 billion, which impacts the companies involved and their shares in financial markets.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no extreme event mentioned in the text.
Deal Size: The deal size is 8400000000.
Move Size: 6.26%
Sector: Technology
Direction: Up
Magnitude: Medium
Affected Instruments: Stocks

Reported publicly: www.wsj.com