Special Situations, Content Strategist, Smartkarma

Crispin Francis

Special Situations, Content Strategist

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

Event-Driven

Diligent Corporation (NZX: DIL) announced it has entered into a definitive agreement to be acquired by Insight Venture Partners (“Insight”), a leading global venture capital and private equity firm investing in high-growth software, internet and data services companies.<ul><li>Under the terms of the agreement, Diligent stockholders will receive USD 4.90 in cash for each share of Diligent stock</li><li>Final NZD price per share and NZD consideration is dependent on the USDNZD exchange rate at the close of the transaction</li></ul><ul><li>Deal Value approximately USD 624 Mn</li><li>The Diligent Board of Directors has unanimously approved the transaction and resolved to recommend that stockholders vote in favor of the agreement</li><li>The transaction represents a 31% premium over the closing share price of NZD 5.64 (USD 3.741) on February 12, 2016</li></ul>In this insight, we take a close look at the implied valuations, deal timing and appropriate levels for risk arbs to set up a trade. More below the fold.

Diligent Corporation (NZX: DIL) announced it has entered into a definitive agreement to be acquired by Insight Venture Partners (“Insight”), a leading global venture capital and private equity firm investing in high-growth software, internet and data services companies.Under the terms of the agreement, Diligent stockholders will receive USD 4.90 in cash for each share of Diligent stockFinal NZD price per share and NZD consideration is dependent on the USDNZD exchange rate at the close of the transactionDeal Value approximately USD 624 MnThe Diligent Board of Directors has unanimously approved the transaction and resolved to recommend that stockholders vote in favor of the agreementThe transaction represents a 31% premium over the closing share price of NZD 5.64 (USD 3.741) on February 12, 2016In this insight, we take a close look at the implied valuations, deal timing and appropriate levels for risk arbs to set up a trade. More below the fold. 

Diligent Corp

Diligent Corporation - Insight Venture