Web.com Group Agrees To Be Acquired By Siris Capital In $2 Bln Deal
Summary
As per the terms of the agreement, which has been unanimously approved by the members of Web.coms board of directors, an affiliate of Siris will acquire all of the outstanding common stock of Web.com for $25.00 per share in cash. Web.com may solicit alternative acquisition proposals from third parties during a go-shop period from the date of the agreement until August 5, 2018. Web.com does not intend to disclose developments with respect to the solicitation process unless and until the company determines such disclosure is appropriate. The proposed transaction is expected to close in the fourth quarter of 2018 and is subject to approval by Web.coms shareholders, along with the satisfaction of customary closing conditions and antitrust regulatory approvals, as necessary. Upon completion of the acquisition, Web.com will become wholly owned by an affiliate of Siris.
Classifications
AskAI Classifications
LabelsLinked Companies
