Instructure’s Shares Fell 3% Amid Concerns that the $2 Billion Takeover from Thoma Bravo Will Fail

IBL News | New York

Instructure (NYSE: INST) yesterday adjourned the Special Meeting of stockholders called to vote on the $2 billion takeover proposal (or $47.60 per share) from equity firm Thoma Bravo, LLC. to February 14, 2020. Information regarding the adjournment was disclosed in a document filed yesterday at the SEC.

The stock market didn’t take the announcement and press stories around discrepancies among stakeholders well. As a result, it brought down the price of the stock 3% to $45.92 per share in New York trading. The market capitalization decreased to $1.2 Billion.

The dominant speculation points out that Thoma Bravo will fail today to win investors’ majority support for its offer and Instructure will continue as a traded company while evaluating new strategic options.

 

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