Proofpoint Announces Expiration of "Go-Shop" Period
SUNNYVALE, Calif., June 10, 2021 (GLOBE NEWSWIRE) -- Proofpoint, Inc. (NASDAQ: PFPT), a leading cybersecurity and compliance company, today announced the expiration of the 45-day “go-shop” period under the terms of the previously announced definitive agreement, pursuant to which Thoma Bravo, a leading private equity investment firm focused on the software and technology-enabled services sector, will acquire Proofpoint in an all-cash transaction that values Proofpoint at approximately $12.3 billion. The “go-shop” period expired at 11:59 p.m. (Eastern Time) on June 9, 2021.
Pursuant to the merger agreement, Proofpoint’s Board of Directors, with the assistance of Morgan Stanley & Co. LLC (“Morgan Stanley”), Proofpoint’s exclusive financial advisor, actively solicited alternative acquisition proposals from potentially interested third parties; however, during the “go-shop” period Proofpoint did not receive any alternative acquisition proposals from any third party.
The transaction is expected to close in the third quarter of 2021, subject to customary closing conditions, including approval by Proofpoint shareholders and receipt of regulatory approvals. Upon closing of the transaction, Proofpoint’s common stock will no longer be listed on any public market.
About Proofpoint, Inc.
Proofpoint is a trademark or registered trademark of Proofpoint, Inc. in the U.S. and other countries. All other trademarks contained herein are the property of their respective owners.
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