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.
The only other edtech company that I’ve seen lose favor of its community this rapidly, through self-infliction, is Blackboard. https://t.co/LmUWr3Y3Ye
— George Siemens (@gsiemens) February 13, 2020