Investment firms Elliott Management and Vista Equity Partners are planning to acquire Citrix. If the deal happens for about 11.6 billion euros ($13 billion), a merger with TIBCO is likely to follow.
This is according to sources from Reuters. According to the sources, the investment companies could announce the acquisition as early as the beginning of this week. The intention would then be for Citrix to merge with TIBCO, another IT company owned by Vista Equity Partners. Previously, Vista Equity Partners attempted a similar merger between TIBCO and Blue Prism, but it fell through.
Financing
Both investment companies are said to have been busy lately in the capital market for a loan for the financing. According to Reuters, the amount involved is about 11.6 billion euros ($13 billion). This should be about 93.11 euros ($104) per Citrix share.
Long-running takeover process
Both investors have been in the process of acquiring Citrix for several months. For its part, Citrix is looking at refocusing its business or a possible spin-off. This is because of its disappointing results. For example, the company barely managed to capitalize on the recent high demand for remote working technology due to the pandemic.
If the two investment firms actually acquire Citrix, the company will face profound changes. In addition to merging with TIBCO, activist investor Elliott Management Group might want to replace management.
8 hours ago
