Websense Shareholders Have June 25 Deadline
Websense shareholders have until June 25 to decide on a $24.75-a-share acquisition offer by Vista Equity Partners.
The board of cyber attack security specialist Websense has agreed to be acquired by Vista Equity Partners in the $903 million deal announced earlier this month. This morning, the companies announced that the tender offer for all of the outstanding shares of Websense common stock has begun.
Pursuant to the merger agreement, once the tender offer is completed and once certain conditions have been met or waived, all outstanding shares will be automatically cancelled and converted into the right to receive cash equal to the buyout price.
The conditions to which the completion of the tender offer is subject include the satisfaction of a minimum tender condition and the expiration or termination of the waiting periods under the Hart-Scott-Rodino Antitrust Improvements Act.
Websense's board of directors urges shareholders to tender their shares and if necessary vote in favor of the merger agreement. The tender offer and withdrawal rights are scheduled to expire at 9 a.m., New York City time, on Tuesday, June 25.
The article Websense Shareholders Have June 25 Deadline originally appeared on Fool.com.Fool contributor Rich Duprey has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.