Mimecast Rises 6% On News Of Acquisition By Private Equity Firm

Shares of e-mail and cyber security company Mimecast Ltd (MIME) are up 6 percent on Tuesday's trading after news that the company will be acquired by private equity firm Permira.

Under the terms of the agreement, Permira will acquire all outstanding ordinary shares of Mimecast for $80.00 per share in an all-cash transaction that values Mimecast at an equity value of approximately $5.8 billion. The transaction is expected to close in the first half of 2022.

Upon completion of the transaction, Mimecast will become a privately held company and the ordinary shares of Mimecast will no longer be listed on any public market.

Currently at $79.85, the stock has traded between $38.84 and $85.48 during the past 52 weeks.

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