Anaplan Rallies In Premarket; Decides To Go Private

(RTTNews) - Shares of Anaplan, Inc. (PLAN) are up more than 28% in pre-market on Monday after the business planning software company announced its decision to go private following acquisition by private equity firm Thoma Bravo in a transaction valued about $10.7 billion, to be paid in cash.

The transaction value of $66 per share represents a premium of nearly 46% to the volume weighted average price of Anaplan stock for the five days ending March 18.

The deal is scheduled to be closed in the first half of 2022.

PLAN is currently trading at $64.95 in pre-market. It closed Friday's regular trade at $50.59, up $3.56 or 7.57%.