Qualtrics rises on buyout proposal

Qualtrics International

06/03/2023 14:19

** Shares of customer-survey software maker Qualtrics
International Inc  XM.O  up ~3% at $17.65 before the bell 
    ** Co says it has received a non-binding proposal from
private equity firm Silver Lake Management and Canada Pension
Plan Investment Board to buy its outstanding shares not owned by
Silver Lake for $18.15 per share in cash
    ** Says the offer price values XM at ~$12.4 bln in equity
value 
    ** Last week, Silver Lake had announced that it was
considering a takeover of XM  urn:newsml:reuters.com:*:nL4N34H39Q 
    ** Software maker SAP  SAPG.DE  announced in January that it
planned to cut 3,000 jobs and explore the sale of its remaining
71% stake in XM  urn:newsml:reuters.com:*:nL8N34B125 
    ** Shares of XM fell about 70% in 2022 

 (Reporting by Vansh Agarwal in Bengaluru)
 ((Vansh.Agarwal@thomsonreuters.com;))