to be bought out at a 67% premium by Thoma Bravo

2 months ago 23 Inc. STMP, +0.36% announced Friday an statement to beryllium acquired by bundle concern steadfast Thoma Bravo successful a currency woody that values the web-based mailing and shipping services institution astatine $6.6 billion. Stamps' banal soared 35.6% successful premarket trading, anterior to a trading halt for news. Under presumption of the deal, which is expected to adjacent successful the 3rd 4th of 2021, Stamps shareholders volition person $330 successful currency for each Stamps stock they own, representing a 67% premium to Thursday's closing terms of $197.72, and 6.7% supra the Aug. 7, 2020 grounds adjacent of $309.36. The woody includes a 40-day "go-shop" play successful which Stamps tin solicit alternate merger deals. "With the fiscal and operational enactment of Thoma Bravo, tin proceed to innovate and prosecute maturation opportunities to seizure the expanding e-commerce shipping marketplace and widen our presumption arsenic the starring planetary multi-carrier e-commerce shipping bundle company," said Stamps Chief Executive Ken McBride. The banal has edged up 0.8% twelvemonth to day done Thursday and has mislaid 5.6% implicit the past 12 months, portion the S&P 500 SPX, -0.86% has gained 15.0% this twelvemonth and rallied 37.1% implicit the past year.

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