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Thoma Bravo cuts takeover offer for software firm Anaplan to $10.4 billion (June 6) -Breaking

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© Reuters. FILE PHOTO – A banner for Anaplan, Inc. is displayed on the New York Stock Exchange’s facade to commemorate the company’s IPO, New York, U.S.A, 12 October 2018. REUTERS/Brendan McDermid

This June 6, 2006 story corrected headline and first paragraph. The revised deal was valued at $10.4 million, not $9.6.

(Reuters) – Anaplan (NYSE:) Inc stated Monday that Thoma Bravo, a private-equity company, had reduced its takeover offer by $10.4 billion after it resolved a dispute about compliance with specific merger terms.

Shares of the company have increased nearly 44% since last year but were only 4% lower in premarket trades.

The company released a statement saying that Anaplan’s board had agreed to revise its merger agreement in order to reduce the likelihood of long-running litigation.

Anaplan shareholders now get $63.75 per share compared to the $66 offer. Anaplan shareholders will still receive $63.75 per share, compared to the previous offer of $66.

This deal should close on June 30.

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