Tue 03/09/2021 17:37 PM
Share this article:
Relevant Document:
Eminence SC14D-9

Eminence Capital LP, which holds an approximate 4.84% stake in Pluralsight Inc., announced today, Tuesday, March 9, that it does not intend to tender its shares into the offer relating to Pluralsight’s revised merger agreement with Vista Equity Partners. For access to the relevant documents above as well as our M&A team's analysis and reporting on hundreds of other mergers and acquisitions including the Pluralsight and Vista Equity Partners situation request a trial here.

Eminence CEO Ricky Sandler said, "Vista's modestly improved offer for Pluralsight from an artificially low starting price resulting from a sham process does not come close to compensating shareholders for giving up the value of the Company's strong near term and long term business prospects as a standalone public company.” Eminence stated that it strongly urges all Pluralsight shareholders not to tender their shares.

Pluralsight and Vista announced yesterday that they agreed to revise their definitive merger agreement to increase the consideration to $22.50 per share in cash through a tender offer. Under the revised terms, Vista will commence a tender offer on or before March 10.

Reorg reported that Pluralsight and Vista previously procured approvals from the Austrian Federal Competition Authority and the German Federal Cartel Office. The pending acquisition also cleared reviews under the HSR Act in the United States and the foreign investment laws of New Zealand.

Pluralsight stated that the transaction is expected to close in the second quarter of 2021, subject to the satisfaction of closing conditions, including the tender of a majority of the shares not held by (1) parties to the tax receivables agreement that are receiving benefits under the TRA in connection with the acquisition by Vista or (2) any of Pluralsight’s officers, including Aaron Skonnard.

Reorg’s previous coverage of this transaction can be found HERE.
Share this article:
This article is an example of the content you may receive if you subscribe to a product of Reorg Research, Inc. or one of its affiliates (collectively, “Reorg”). The information contained herein should not be construed as legal, investment, accounting or other professional services advice on any subject. Reorg, its affiliates, officers, directors, partners and employees expressly disclaim all liability in respect to actions taken or not taken based on any or all the contents of this publication. Copyright © 2021 Reorg Research, Inc. All rights reserved.
Thank you for signing up
for Reorg on the Record!