Stamps.com Inc., the online postage company, has agreed to be acquired for $6.6 billion in cash by private equity firm Thoma Bravo.
The purchase price of $330 a share is a 67% premium to Stamps.com’s Thursday closing price, the companies said in a statement Friday. The stock had stalled so far this year, with a 0.8% gain, but surged 135% last year.
Stamps.com shares jumped as much as 64% to $323.62 in New York trading Friday.
The deal includes a 40-day “go-shop” agreement allowing Stamps.com to seek a higher offer, the companies said.
Source: Bloomberg
By John J Edwards III
Can't stop reading? This and all news articles are property of their creators, many are not owned or provided by Private Equity Insider. As an event organizer and community platform, we curate content from reliable sources for your suggested reading, and advise you to read the full articles from the referenced authors and sources.