Permira raises takeover offer for Squarespace to $7.2 billion [Yahoo! Finance]
Squarespace, Inc. Class A (SQSP)
Company Research
Source: Yahoo! Finance
The private equity firm will offer $46.50 per share in cash to Squarespace stockholders, compared with its earlier proposal of $44 apiece. The revised bid comes days after proxy advisory firm Institutional Shareholder Services recommended Squarespace investors to vote against Permira's proposed transaction. ISS had raised concerns that the sale process did not maximize value for shareholders, given Squarespace's strong operational results and outlook. Permira's new offer underscores its keen interest in Squarespace, which helps enterprises digitize their operations and enhance branding as more companies move online to drive growth. Squarespace was valued at $6.5 billion in its market debut in May 2021. The revised offer represents a premium of 36.4% to the stock's closing price on May 10, the last trading day prior to the announcement of the original deal. Permira's latest bid is higher than Squarespace's closing price on Friday, which was already above the original offer
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SQSP
News
- Permira completes Squarespace acquisition after upping bid to $7.2B [TechCrunch]TechCrunch
- Permira Completes Acquisition of Squarespace [Yahoo! Finance]Yahoo! Finance
- Squarespace, Inc. (NYSE: SQSP) had its "market perform" rating re-affirmed by analysts at William Blair.MarketBeat
- Permira Completes Tender Offer for Outstanding Shares of SquarespaceBusiness Wire
- Q2 Earnings Highs And Lows: GoDaddy (NYSE:GDDY) Vs The Rest Of The E-commerce Software Stocks [Yahoo! Finance]Yahoo! Finance
SQSP
Earnings
- 8/2/24 - Miss
SQSP
Sec Filings
- 10/17/24 - Form SC
- 10/17/24 - Form 4
- 10/17/24 - Form SC
- SQSP's page on the SEC website