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July 15, 2020, 12:21 p.m. EDT

Forescout stock rallies as deal to go private is back on

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By Wallace Witkowski

FSCT

Forescout Technologies Inc. /zigman2/quotes/205654246/composite FSCT +0.14% shares rallied Wednesday after the cybersecurity company said its deal to be taken private by Advent International was back on but at a lower price. Forescout shares surged 15% to $28.89 in recent trading. Forescout said Advent will acquire it for $29 a share, putting an end to a lawsuit that arose when it looked like the original deal was falling apart. Back in February, Forescout agreed to be taken private by Advent for $33 a share, or $1.9 billion, but by May, Forescout said the deal was being delayed. Under the new agreement, Advent will begin a tender offer for Forescout shares on or before July 20 with the deal expected to close in the third quarter.

/zigman2/quotes/205654246/composite
US : U.S.: Nasdaq
$ 28.99
+0.04 +0.14%
Volume: 1.57M
July 31, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$1.44 billion
Rev. per Employee
$266,712
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