Deals
Sophos Becomes Latest U.K. Tech Target in $3.8 Billion Deal
- Sophos shares surge as much as 38% on cash buyout offer
- Deal is the biggest takeover of a U.K. tech firm this year
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Private equity firm Thoma Bravo agreed to buy Sophos Group Plc for $3.8 billion, taking the British cybersecurity firm private in the biggest takeover of a U.K. technology firm this year.
Thoma Bravo will pay $7.40 a share in cash, or 583 pence per share, representing a premium of 37.1% to its last closing price, the buyout firm said in a statement Monday. Shares jumped as much as 38% in London on Monday and traded at 576 pence at 10:34 a.m.