Smartsheet Inc. (SMAR), Tuesday announced that it has agreed to be acquired by private equity firms Blackstone, and Vista Equity Partners for about $8.4 billion.
According to the all-cash deal, the shares of the software company would be valued at $56.50 per share. Also, a 45-day 'go-shop' period is included in the deal.
The transaction is expected to close in the fourth quarter.
Currently, Smartsheet's stock is climbing 6.33 percent, to $55.38 on the New York Stock Exchange.
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