Squarespace jumps on $6.9 bln go-private deal with Permira

Squarespace

13/05/2024 12:33

** Shares of website-design platform Squarespace  SQSP.N 
rise 12.6% to $43 premarket  
    ** PE firm Permira will take Squarespace private in an
all-cash deal valued at about $6.9 billion
    ** Permira's offer price of $44 per share represents 15.2%
premium to stock's last closing price on Friday
    ** Founder and CEO Anthony Casalena will roll over a
substantial majority of his existing stake and continue to be
one of the largest shareholders after the deal - co 
    ** Shares of peer Wix  WIX.O  up 1.42% at $124 premarket
    ** Up to last close, SQSP stock up ~16% YTD

 (Reporting by Priyanka.G)
 ((Priyanka.g@thomsonreuters.com))