PLAN - Anaplan holder Corvex withdraws board nominee after Thoma Bravo deal

Anaplan (NYSE:PLAN) holder Corvex Management withdrew its board nomination for after Thoma Bravo agreed to acquire the financial planning software company for $10.7 billion on Monday. Corvex withdrew its founder Keith Meister as a board nominee, according to a 13D filing. Corvex and activist Sachem Head disclosed stakes in Anaplan and announced plans to nominate directors to the board in filings late Thursday.  Sachem Head on Monday disclosed that it's "advocacy agreement" in relation to Anaplan (PLAN) was terminated following the Thoma Bravo deal announcement, according to a 13D filing. Thoma Bravo is a "smart well informed private equity buyer" that's likely looking to make "20 plus percent return" and was able to buy the business at a 45% premium to where it had been trading over the last five days, Meister said in an interview on CNBC on Monday. "So clearly there's a real money buyer there who thinks they can

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Anaplan holder Corvex withdraws board nominee after Thoma Bravo deal