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Tuesday, February 12, 2019

=Ellie Mae (ELLI) to be acquired by Thoma Bravo for $99/share

Ellie Mae to be acquired by Thoma Bravo for $99/share in cash, or approximately $3.7 bln
Under the terms of the agreement, Thoma Bravo will pay Ellie Mae shareholders $99 in cash per share, equal to a 47% premium over the 30-day average closing share price and 49 percent premium to the 60-day average closing price as of February 1, 2019. Ellie Mae is a cloud-based platform provider for the mortgage finance industry that was set up more than 20 years ago. Ellie Mae will remain headquartered in Pleasanton, California. The deal is expected to close in the second or third quarter. The agreement includes a 35 day "go-shop" period, under which Ellie Mae can seek superior bids. Shares have fallen 5.3% in the last 12 months, while the S&P 500 SPX, +0.07% has gained 2.0%.

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