PLAN - Thoma Bravo agrees to buy Anaplan for $10.7B (update)

Update 7:35am: Adds company confirmation, premarket trading. Private equity Thoma Bravo agreed to buy business planning software company Anaplan Inc. (NYSE:PLAN) for $10.7 billion. Anaplan jumped 28% in premarket trading. Thomba Bravo agreed to pay $66/share in cash for Anaplan (PLAN), according to a statement. Anaplan CEO Frank Calderoni plans to continue to lead the software company. The $66 price represents a 31% premium to PLAN's closing price on Friday. The news comes after activist investors Sachem Head and Corvex Management disclosed stakes in Anaplan and announced plans to nominate directors to the board in filings late Thursday. Corvex, Sachem Head and JS Capital collectively have a 8.7% stake. The disclosure about the activist stakes came after Reuters reported last month that activist Sachem Head had taken a stake in Anaplan. The $66/share price represents a 57% premium to Anaplan's price on Feb. 23, prior to the Reuters report. The transaction is expected to close

For further details see:

Thoma Bravo agrees to buy Anaplan for $10.7B (update)