EngageSmart Inc.
confirmed Monday that it was being acquired by Vista Equity Partners in a all-cash deal valued at $4 billion. Under terms of the deal, EngageSmart shareholders will receive $23 for each EngageSmart share they own, which represents a 13.9% premium to Friday’s closing price of $20.20. The stock has rallied 10.1% in premarket trading prior to a trading halt for news, after The Wall Street Journal reported that a deal was close, and could be announced as early as Monday.
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