Permira将Squarspacace收购要约提高至46.50美元/瑞士

Permira has increased its buyout offer for Squarespace (NYSE:SQSP) to $46.50 per share in cash, resulting in an aggregate transaction value of approximately $7.2 billion, the companies said on Monday.

The revised offer price represents an increase of 5.7% over the previously agreed offer price of $44.00 per share, a premium of 36.4% over Squarespace's (SQSP) 90-day volume weighted average trading price of $34.09.

Squarespace (SQSP) rose on Friday, amid a report that proxy service ISS recommends a vote against its planned $6.6 billion sale to Permira. 

The amended agreement represents over 20x enterprise value / 2025 unlevered free cash flow, representing a significant premium to peers, the company said.

"The revised transaction is structured as a tender offer and is conditioned on a majority of the shares held by unaffiliated stockholders tendering into the offer," Squarespace (SQSP)  said.

The amendment was unanimously approved and recommended by a Special Committee of the Squarespace Board of Directors, composed entirely of independent and disinterested directors, and unanimously approved by the Squarespace Board of Directors.

All existing rolling shareholders have agreed to roll at the revised offer price.

Source: Press Release