Stamps.com Decides To Go Private

Stamps.com (STMP) on Friday announced its decision to go private by software investment firm Thoma Bravo acquiring it in an all-cash transaction valued about $6.6 billion.

As per the deal, the company's stockholders will get $330, a premium of 67 percent over the company's closing share price as on July 8, 2021 and 71 percent premium over the three-month volume-weighted average closing share price through July 8, 2021.

"The e-commerce landscape is rapidly evolving and we look forward to partnering with the Stamps.com team to continue building on the Company's leading position in e-commerce shipping solutions," said Brian Jaffee, a Principal at Thoma Bravo.

The agreement includes a "go-shop" period of 40 days, which expires on August 18, 2021.

The transaction is expected to close in the third quarter of 2021.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Teva Pharmaceuticals USA, Inc. has recalled one lot of platelet-reducing drug Anagrelide in the form of capsules due to dissolution test failure detected during routine stability testing, the U.S. Food and Drug Administration, or FDA, said in a statement. The U.S. Food and Drug Administration said it has taken steps to make available millions of cans of additional infant and specialty formula to U.S. consumers in the coming months. Under the agency's recent increased flexibilities, British nutrition products maker Kendal Nutricare will send about 2 million cans of infant formula under the Kendamil brand initially to U.S. beginning in June. Video streaming giant Netflix Inc. announced the availability of a variety of mobile games. Players can download the games directly from the Netflix mobile app. The new games include Dragon Up (East Side Games), Moonlighter (11 Bit Studios), Townsmen - A Kingdom Rebuilt (HandyGames), and Exploding Kittens - The Game (Exploding Kittens Digital).
Follow RTT