VMware Completes Public Takeover Bid of Carbon Black

- October 8th, 2019

Cloud software company VMware purchased 85 percent of Carbon Black’s outstanding shares for US$26 per share.

VMware (NYSE:VWM), cloud computing company has announced the closing of its public takeover bid of cybersecurity firm Carbon Black. Through the acquisition of an estimated 64.1 million Carbon Black shares at US$26 per share, VMware purchased 85 percent of Carbon Blacks’ shares outstanding.

As quoted in the press release:

The Tender Offer expired at 5:00 p.m., New York City Time, on Monday, October 7, 2019 and was not extended. Approximately 64.1 million Shares of Carbon Black, representing approximately 85.1% of the outstanding Shares, were validly tendered in the Tender Offer and not validly withdrawn.

All conditions to the Tender Offer were satisfied. All Shares of Carbon Black that were validly tendered and not validly withdrawn have been accepted for purchase.

VMware will promptly complete its acquisition of Carbon Black through consummation of a merger of Calistoga Merger Corp., with and into Carbon Black without a vote of the Carbon Black stockholders, in accordance with Section 251(h) of the General Corporation Law of the State of Delaware. Each remaining Share of Carbon Black not purchased in the Tender Offer (other than the exceptions) will be converted into the right to receive the same $26 in cash, without interest and less any applicable withholding taxes, that will be paid in the Tender Offer. Upon completion of the merger, Carbon Black will be a wholly-owned subsidiary of VMware.

As a result of the acquisition, Shares of Carbon Black will cease to be traded on the Nasdaq Stock Market, effective today as of market open.

Click here to read the full press release.

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