XM - Qualtrics gains after receiving $18.15/share cash offer from Silver Lake

2023-03-06 08:22:48 ET

• Qualtrics ( NASDAQ: XM ) rose 3.3% in premarket trading after receiving a an $18.15/share takeover offer from Silver Lake Management for the employee-survey software business.
• Qualtrics ( XM ) and Silver Lake are in exclusive negotiations on a potential deal until March 15, according to a 8-K filing. Silver Lake owns ~25 million Qualtrics shares, or a 4.1% stake. The offer price values Qualtrics at about $12.4 billion.
• The Silver Lake offer comes after Qualtrics majority owner SAP ( SAP ) in late January said it's exploring the sale of its remaining stake in the company. SAP ( SAP ) said it was exploring a sale of it 71% stake in the Qualtrics ( XM ).

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