Bulletin
Investor Alert

London Markets Close in:

Market Pulse Archives

Nov. 12, 2018, 8:47 a.m. EST

Apptio's stock rockets over 50% after $1.9 billion buyout deal

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    S&P 500 Index (SPX)

or Cancel Already have a watchlist? Log In

By Tomi Kilgore

SPX

Shares of Apptio Inc. soared 52% to pace all premarket gainers Monday, after the business management systems company confirmed a deal to be acquired by an affiliate of private-equity firm Vista Equity Partners in a deal valued at $1.94 billion. The Wall Street Journal originally reported on Sunday that a deal was imminent. Under terms of the deal, which was announced late Sunday evening, Vista will pay $38 in cash for each Apptio share outstanding, which represents a 53% premium to Friday's closing price of $24.85. The deal, which includes a 30-day "go-shop" period, is expected to close in the first quarter of 2019. Apptio's stock has tumbled 30% over the past three months, while the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.43% has slipped 1.8%.

/zigman2/quotes/210599714/realtime
US : S&P US
3,337.09
-14.51 -0.43%
Volume: 547.77M
Sept. 29, 2020 11:01a
loading...

Get news alerts on S&P 500 Index — or create your own.
This Story has 0 Comments
Be the first to comment
More News In
Industries

Story Conversation

Commenting FAQs »
Link to MarketWatch's Slice.