Home / M&A Activity / Private Investor Group to Buy BMC for $7B Cash

Private Investor Group to Buy BMC for $7B Cash

BMC-Software-LogoBMC Software‘s (NASDAQ: BMC) board of directors has agreed to sell the company to a private investor group led by Bain Capital and Golden State Capital for $6.9 billion cash, or $46.25 per share.

The transaction is subject to approval from BMC shareholders and regulatory approvals and the company expects the transaction to close later this year, BMC said Monday.

GIC Special Investments Pte Ltd. and Insight Venture Partners round out the group seeking to buy BMC.

Elliott Management has agreed to vote its 9.6 percent stake in BMC in favor of the sale, BMC says.

The agreement with the investor group contains a 30-day period where BMC may solicit alternative proposals for an acquisition.

BMC has hired Morgan Stanley & Co. and BofA Merrill Lynch as financial advisers and Wachtell, Lipton, Rosen & Katz as legal counsel for the sale.

Credit Suisse, RBC Capital Markets and Barclays will provide debt financing for the transaction, which contains no financing condition.

Check Also

F5 to Buy Shape Security for $1B; Francois Locoh-Donou Quoted

F5 Networks (Nasdaq: FFIV) has agreed to acquire Santa Clara, Calif.-based Shape Security for approximately $1B in cash as both companies aim to help government and enterprise customers secure digital experience with integrated offerings.

Paratek Secures $169M Anthrax Antibiotic Development Contract Under HHS Project BioShield

The Department of Health and Human Services has awarded Paratek Pharmaceuticals a potential a five-year, $169M contract to further develop an antibiotic drug as a potential treatment for inhalation anthrax.