Thoma Bravo cuts takeover offer for software firm Anaplan to $9.6 bn

Anaplan said private-equity firm Thoma Bravo had reduced its takeover offer to $9.60 billion, after the software maker agreed to resolve a disagreement regarding compliance with certain merger terms.
VC funding for tech
The deal is expected to close by June 30.

“The Anaplan board agreed, after extensive consideration, to revise the merger agreement to avoid the risk of lengthy litigation over the disagreement,” the company said in a statement.

Anaplan shareholders will now receive $63.75 per share, compared with the previous offer of $66. The offer price is still at a premium of 26 percent to Anaplan’s closing price before the deal was announced in March.