ClearBridge asks Model N to reconsider $1.25 bln deal with Vista [Reuters]
Model N, Inc. (MODN)
Last model n, inc. earnings: 2/4 04:15 pm
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Source: Reuters
, opens new tab board to reconsider the proposed acquisition of the healthcare IT firm by Vista Equity Partners. Model N last week agreed to be taken private by investment firm Vista Equity for about $1.25 billion. "We believe the proposed acquisition materially undervalues Model N's outlook as a public company or value to strategic or financial buyers," ClearBridge said in its letter to Model N. ClearBridge, which had more than $188 billion in assets under management as of March 31, 2024, owns 6.9% of the outstanding stock of Model N, according to LSEG data. The equity manager said the board and the company's advisers should remain open minded to potentially superior offers or Model N shareholders should consider the potential long-term value creation in staying a standalone public entity. Get U.S. personal finance tips and insight straight to your inbox with the Reuters On the Money newsletter. Sign up here. Reporting by Christy Santhosh in Bengaluru; Editing by Shilpi
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MODN
News
- SHAREHOLDER INVESTIGATION NOTICE: Halper Sadeh LLC Investigates MODN, AIRC, INRD, ALPNGlobeNewswire
- Thoma Bravo to take UK cybersecurity company Darktrace private in $5B deal [TechCrunch]TechCrunch
- Model N, Inc. (NYSE: MODN) is now covered by analysts at StockNews.com. They set a "hold" rating on the stock.MarketBeat
- Model N, Inc. (NYSE: MODN) had its "market perform" rating re-affirmed by analysts at JMP Securities.MarketBeat
- Model N, Inc. (NYSE: MODN) had its "hold" rating re-affirmed by analysts at Needham & Company LLC.MarketBeat
MODN
Earnings
- 2/6/24 - Beat
MODN
Sec Filings
- 4/22/24 - Form DEFA14A
- 4/22/24 - Form 8-K
- 4/8/24 - Form DEFA14A
- MODN's page on the SEC website