IBL News | New York
Instructure (NYSE: INST) yesterday adjourned the Special Meeting of stockholders called to vote on the $2 billion takeover proposal (or $47.60 per share) from equity firm Thoma Bravo, LLC. to February 14, 2020. Information regarding the adjournment was disclosed in a document filed yesterday at the SEC.
The stock market didn’t take the announcement and press stories around discrepancies among stakeholders well. As a result, it brought down the price of the stock 3% to $45.92 per share in New York trading. The market capitalization decreased to $1.2 Billion.
The dominant speculation in the market pointed out that Thoma Bravo might fail today to win investors’ majority support for its offer.
However, IBL News exclusively knew that Instructure and Thoma Bravo will make today a new offer price of $49 per share.
The only other edtech company that I’ve seen lose favor of its community this rapidly, through self-infliction, is Blackboard. https://t.co/LmUWr3Y3Ye
— George Siemens (@gsiemens) February 13, 2020
