Smartsheet's stock rallies on $8.4 billion purchase by Blackstone and Vista

Dow Jones
2024-09-24

MW Smartsheet's stock rallies on $8.4 billion purchase by Blackstone and Vista

Smartsheet Inc.'s stock (SMAR) rallied 6% in premarket trading Tuesday after the workplace management software company agreed to be taken private by Blackstone Inc. $(BX)$ and Vista Equity Partners for $8.4 billion, or $56.50 per share. That's a premium of approximately 41% to the volume weighted average closing price of Smartsheet's stock for the 90 trading days ending on July 17, the last full trading day prior to media reports of a possible deal.

-Steve Gelsi

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September 24, 2024 09:32 ET (13:32 GMT)

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