SonicWall agrees to $636 million takeover offer from group led by private equity fundBy AP
Thursday, June 3, 2010
SonicWall agrees to $636 million takeover offer
SAN JOSE, Calif. — SonicWall Inc., which provides network security technology, has agreed to a roughly $636 million-takeover bid from an investor group led by private equity firm Thoma Bravo LLC.
Under a deal announced late Wednesday, SonicWall shareholders will get $11.50 per share in cash, a 28 percent premium over the company’s last closing share price.
SonicWall’s board voted unanimously to approve the deal, which it expects to close by the end of the year. The company will still need shareholder approval.
SonicWall’s stock jumped $2.31, or 26 percent, to $11.30 in morning trading.
Tags: California, North America, San Jose, United States