Glazer Capital称Permira对Squarspacace的44美元/股报价不充分

2024-08-14 19:54

Glazer Capital, which owns 2,500,000 shares of Squarespace (NYSE:SQSP) common stock, or approximately 5.4% of the shares owned by minority shareholders, Wednesday issued an open letter to the company's Board detailing its opposition to the proposed acquisition by Permira Advisers.
Under the terms of the agreement, Squarespace (SQSP) stockholders will receive $44.00 per share in cash representing a transaction valued at over $6.6 billion on an equity value basis, and approximately $6.9 billion on an enterprise value basis.
Glazer Capital Wednesday said that the merger consideration is "demonstrably inadequate and is the product of a self-serving go-private process engineered by a founder-CEO that presently controls, and desires to retain control over, Squarespace's destiny."
"It is also our view that the Acquisition was orchestrated to deliver the Company into the arms of a handpicked private equity consortium," Glazer Capital said, adding, it intends to vote all of its shares against the transaction at the upcoming meeting of Squarespace shareholders.
Source: Press Release

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