Investor Edenbrook Capital says Absolute Software's take-private deal undervalues company

Investment advisory firm Edenbrook Capital sent a letter to the board of Canada's Absolute Software Corp saying the deal for the company to be taken private by Crosspoint Capital Partners"significantly undervalues" the firm.

Edenbrook, which has a stake of 10.4 per cent in Absolute Software, said on Thursday the"transaction is unfair to public shareholders". Last week, Absolute Software agreed to be bought by Crosspoint for $657 mln and said its shareholders will receive $11.50 per share in cash.Shareholders are set to vote on the acquisition at a special meeting expected to be held in late June.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

ServiceNow targets enterprise-software startups with $1 billion investment in venture armCloud-computing firm ServiceNow Inc said on Wednesday it would invest $1 billion in its venture arm by 2026 to back enterprise software-focused startups in artificial intelligence and automation, among others.The investment in ServiceNow Ventures comes at a time when funding for early-stage technology com
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Software company New Relic in talks to be sold - WSJPrivate-equity firms Francisco Partners and TPG are working together on a $5 billion-plus bid to acquire software company New Relic, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. New Relic did not immediately respond to a Reuters request for comment.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »