Anaplan stock falls after per-share buyout deal with Thoma Bravo was lowered to resolve disagreement

Shares of Anaplan Inc. dropped 3.9% in premarket trading Monday, after the business-planning software company said the per-share terms of the buyout deal with private-equity firm Thoma Bravo were lowered by 3.4% to resolve a disagreement regarding compliance with certain terms of the deal. The company said the terms of the deal were amended so that Anaplan shareholders will receive $63.75 in cash for each Anaplan share they own, compared with the previous agreement of $66.00 a share. The new per-share terms represent a 3.1% discount to Friday’s closing price of $65.80. Thoma Bravo said the disagreements could have resulted in certain closing conditions not being satisfied, while Anaplan said it acted in good faith in compliance with the deal at all times. “Nevertheless, the Anaplan Board agreed, after extensive consideration, to revise the merger agreement to avoid the risk of lengthy litigation over the disagreement, provide increased closing certainty for its stockholders and close on substantially the same timeline as originally agreed between the parties,” the companies stated. Anaplan’s stock has soared 43.5% year to date through Friday, while the S&P 500 has lost 13.8%.

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