AVLR - Avalara holder said to plan to vote against $8.2B sale to Vista Equity - report
- An Avalara Inc. ( NYSE: AVLR ) holder plans to vote against a planned $8.2 billion sale of the tax-software company to private equity firm Vista Equity.
- Altair US, which has a 1% stake in Avalara ( AVLR ), argued that the company would be better off as an standalone company and that sales process was flawed and the price undervalues the company, according to traders, who cited a Bloomberg report, which referenced a letter Altair sent to shareholders on Thursday.
- Vista Equity a greed 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.
- A BMO analyst in July said that Avalara ( AVLR ) was likely on many "short lists" as a possible acquisition target.
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Avalara holder said to plan to vote against $8.2B sale to Vista Equity - report