{"id":53506,"date":"2024-09-24T12:22:49","date_gmt":"2024-09-24T16:22:49","guid":{"rendered":"https:\/\/www.businessupturn.com\/usa\/?p=53506"},"modified":"2024-09-24T12:22:59","modified_gmt":"2024-09-24T16:22:59","slug":"smartsheet-share-price-surges-nearly-6-5-on-8-4-billion-buyout-deal-by-blackstone-and-vista-equity-partners","status":"publish","type":"post","link":"https:\/\/www.businessupturn.com\/usa\/smartsheet-share-price-surges-nearly-6-5-on-8-4-billion-buyout-deal-by-blackstone-and-vista-equity-partners\/53506\/","title":{"rendered":"Stock Update: Smartsheet share price surges nearly 6.5% on $8.4 billion buyout deal by Blackstone and Vista Equity Partners"},"content":{"rendered":"<p>Smartsheet Inc. (SMAR) shares soared <strong>+6.46%<\/strong> today, trading at <strong>$55.455<\/strong> as of <strong>12:18 PM ET<\/strong>, following news of a major buyout deal. The cloud-based platform company will be acquired by buyout firms <strong>Blackstone (BX)<\/strong> and <strong>Vista Equity Partners<\/strong> in an all-cash transaction valued at <strong>$8.4 billion<\/strong>.<\/p>\n<p>The acquisition price of <strong>$56.50 per share<\/strong> represents a premium to Smartsheet\u2019s current trading price, driving investor optimism. This buyout is seen as a strategic move by the private equity firms to capitalize on Smartsheet\u2019s market presence in work management and collaboration software.<\/p>\n<p>The deal, once finalized, will take Smartsheet private, marking a significant shift in the company\u2019s trajectory.<\/p>\n<p>Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Smartsheet Inc. (SMAR) shares soared +6.46% today, trading at $55.455 as of 12:18 PM ET, following news of a major\u2026<\/p>\n","protected":false},"author":1,"featured_media":53507,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[73],"tags":[18496],"class_list":["post-53506","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-us-markets","tag-smartsheet"],"reading_time":"1 min read","_links":{"self":[{"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/posts\/53506","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/comments?post=53506"}],"version-history":[{"count":0,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/posts\/53506\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/media\/53507"}],"wp:attachment":[{"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/media?parent=53506"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/categories?post=53506"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/tags?post=53506"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}