PLAN - Anaplan being acquired by private equity a logical decision analysts say

Anaplan (NYSE:PLAN) is being acquired by private equity firm Thoma Bravo for $10.7 billion, or $66 per share in cash, a deal that multiple analysts say makes a lot of sense. Mizuho analyst Siti Panigrahi, who rated shares buy with a $65 price target, noted that the firm was not surprised by the acquisition, given the roughly 40% decline from their recent peak and 55% decline from March 2020, as well as changes to its sales organization. However, Panigrahi also noted that it's likely the deal could kick off several other acquisitions in the enterprise software-as-a-service space. "We expect similarly favorable takeout enterprise SaaS candidates to be positively re-rated and would not be surprised to see further merger activity later this year," Panigrahi wrote. Anaplan (PLAN) shares were up nearly 28% to $64.73 in early trading on Monday. Jefferies analyst Brent Thill, said the 30% premium paid for Anaplan "makes sense" given

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Anaplan being acquired by private equity a logical decision, analysts say