Thoma Bravo ups Offer for Entrust, Shareholder Vote Postponed
| July 13th, 2009 | ||
| On Friday, private equity firm Thoma Bravo raised its offer for information technology firm Entrust (NASDAQ: ENTU) by 8.1% to $124 Million in an effort to underline Thoma Bravo's "strong commitment to the transaction." According to the Wall Street Journal, in response to the new offer, the company decided to postpone the vote to approve the merger from July 10th to July 28th. On Friday, shares of Entrust went up 7.65% as investors cheered the revised offer. Entrust shareholder Arnhold & S. Bleichroeder Advisers LLC announced in June that it opposed the merger and said that it would use “all of [its] eligible shares” to block a merger between Entrust and Thoma Bravo. Highlighting valuation, strategic, and governance concerns, Arnhold & S. Bleichroeder stated that the merger would be ineffectual. Arnhold & S. Bleichroeder, which holds a 5.2% stake in Entrust, has not publicly commented on the new merger proposal. | ||
See Source | ||
For Detailed Investor Profiles on these Investors, click below: |
Arnhold & S. Bleichroeder Advisers |
Related People: Bruce C. Greenwald;
Related Entities: Arnhold & S. Bleichroeder Holdings Inc;
Related Article Tags: Shareholder Activists, Corporate Raiders and Proxy Battles
Add a Comment |
More Recent Headlines
TCI's Chris Hohn donates $788 Million to Charity |
Emerging Hedge Fund Spotlight: Cavenagh Capital, JTM Capital Partners and SaKa Capital |
Ospraie Management Launches Two New Commodity-Focused Hedge Funds |
SEC Freezes Assets of Lancelot Management LLC for Feeding $2 Billion to Petters’ Ponzi Scheme |
Ramius Fails, CPI Corp.’s Shareholders Elect Board Nominees in Landslide |
John Meriwether Closing Down Another Hedge Fund |
Who Watches over the New York Fed? |
Four contenders might take a final shot at winning Delphi |
Osmosis Capital Expands Investment Team with Private Equity Veteran |
Steel Partners Japan's O'Friel Resigns, Replaced by Tanaka |
