AVLR - Avalara holder plans to vote against $8.2B sale to Vista Equity

• An Avalara Inc. ( NYSE: AVLR ) holder said it plans to vote against a planned $8.2 billion sale of the tax-software company to private equity firm Vista Equity.
• Merrion Investment Management, which has been an investor in Avalara ( AVLR ) since October 2019,  said that the price for Avalara   "appears completely devoid of any control premium appropriate in this situation," according to a statement.
• The Merrion opposition comes after a Bloomberg report a week ago that another Avalara holder, Altair US, which has a 1% stake in Avalara ( AVLR ), is also against the sale and believes company would be better off as an standalone.
• Vista Equity agreed to pay $93.50/share in all cash-transaction for Avalara ( AVLR ) last month, which represented a 27% premium to Avalara's closing price on July 6, the last trading prior to media reports about a potential transaction.

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