InsideArbitrage Potential Deal Alert: Sprout Social’s (SPT) Founders In Bid To Take The Company Private

POTENTIAL DEAL DETAILS

According to Reuters, the founders of Sprout Social (SPT), are in talks to take the provider of social media tools to businesses private.

Founders including Justyn Howard, Gil Lara, Aaron Rankin and Peter Soung control Sprout through a special class of shares. They have held talks with private equity firms that could partner with them on a deal.

The company’s board has formed a special committee of independent directors to consider a deal and has hired investment bank Morgan Stanley as its adviser.

Sprout Social Investor Relations

Update(s):

May 21, 2024: Sprout Social (SPT) announced that “there is no process in place to sell or take the company private”, in response to the Reuters report, adding that as a public company, it receives inbound interest from time to time from various counterparties, and the company’s board considers such interest as and when appropriate.

Disclaimer: Our intent with this section of the website is to present potential deals that appear to be in the pipeline. These potential deals are ones where i) the company has indicated that it is "seeking strategic alternatives", ii) there has been an unsolicited bid for a company as mentioned in a press release by the company or iii) news about the deal has been published by a leading news organization like The Wall Street Journal, The New York Times, Bloomberg, Financial Times, The Washington Post, Reuters and The Associated Press. As best as possible we will try to avoid baseless rumors. There is a high probability that many of these potential deals may not materialize and if they do, the terms of the deal may be different from what was initially reported. Please do your own due diligence before buying or selling any securities mentioned on this website. We do not warrant the completeness or accuracy of the content or data provided.