Yext jumps as CEO offers to buy company
18/08/2025 13:35
** Shares of brand visibility platform Yext YEXT.N up 8.7% at $8.79 premarket ** Yext CEO Michael Walrath submits proposal to acquire part of the company he does not already own for $9 per share ** Offer price represents 11.2% premium to stock's Friday closing price of $8.09 ** Walrath owns 2.8% of the company's shares, according to LSEG data; Proposal values company at $1.1 billion ** Company says the board has formed special committee of independent directors to evaluate the proposal ** In light of the proposal, Yext says it is withdrawing its forecast for the remainder of the fiscal year 2026 ** Up to last close, stock had risen about 27% this year (Reporting by Akash Sriram in Bengaluru) ((Akash.Sriram@thomsonreuters.com; https://twitter.com/hoodieonveshti;))