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Tuesday, December 17, 2019

-=LogMeIn (LOGM) to be acquired for $86.05 per share

  • Update Mon 8/31/20 : LogMeIn go-private acquisition by Francisco Partners and Evergreen Coast Capital completed.

LogMeIn to be acquired by affiliates of Francisco Partners and Evergreen Coast Capital for $86.05 per share in cash

  • Under the terms of the Agreement, LogMeIn shareholders will receive $86.05 in cash for each share of LogMeIn's common stock they hold. This consideration represents a premium of approximately 25% to LogMeIn's unaffected closing stock price on September 18, 2019, the last trading day before a media report was published speculating about a potential sale process. The all-cash transaction values LogMeIn at an aggregate equity valuation of approximately $4.3 billion. The Board of Directors of LogMeIn approved the Agreement and recommended that shareholders vote in favor of the transaction. The transaction is expected to close in mid-2020, subject to customary closing conditions, including the receipt of stockholder and regulatory approvals.
  • The definitive agreement for the transaction includes a customary 45-day "go-shop" period which permits LogMeIn and its advisors to actively solicit alternative acquisition proposals, and potentially enter negotiations with other parties that make alternative acquisition proposals. LogMeIn will have the right to terminate the definitive agreement to accept a superior proposal subject to the terms and conditions of the definitive agreement. There can be no assurance that this process will result in a superior proposal, and LogMeIn does not intend to disclose developments with respect to the solicitation process unless and until its Board of Directors makes a determination requiring further disclosure.
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