Friday, July 10, 2009

Entrust Reports Increased Acquisition Offer From Thoma Bravo

Dallas-based Entrust disclosed today that the firm has amended its merger agreement with private equity firm Thoma Bravo, increasing the price being paid for the firm from $1.85 per share, to $2.00 per share in cash, or approximately $124M. The boost in pricing was due to an effort by Entrust's board of directors and an unnamed, independent financial advisor, to "actively solicit other interest in acquiring the company." Entrust said those efforts did not result in a more compelling transaction for the company's stockholders. Entrust had originally announced its deal with Thoma Bravo in April.