SHOP - Pitney Bowes jumps after $6.6B Stamps.com/Thoma Bravo deal announced

JHVEPhoto/iStock Editorial via Getty Images Pitney Bowes (PBI) soared 12% after Stamps.com (STMP) agreed to a $6.6B sale to private equity firm Thoma Bravo. Thoma Bravo agreed to purchase Stamps.com for $330/share, a  67% premium to its closing price yesterday. Stamps.com competitors include Pitney Bowes and the U.S. Postal Service, according to STMP's 10-K filing. PBI short interest 6.8% of float. Pitney Bowes could potentially be a target for another buyer and recall that about a year ago Citron Research tweeted that Stamps.com could be purchased by Shopify (SHOP) in all-stock deal for $400/share. Shopify is listed as a competitor to Stamps.com in a 10-K filing. Stamps.com was trading around $220 at the time of the Citron piece. Also see SA contributor Horizon Capital's piece from a month ago  entitled "Be Cautious With Pitney Bowes At This Price."

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Pitney Bowes jumps after $6.6B Stamps.com/Thoma Bravo deal announced