Elliott Management Acquires Gigamon for $1.6B

Press release published by: https://www.sdxcentral.com/
Author: Ali Longwell
Source URL: https://www.sdxcentral.com/articles/news/elliott-management-acquires-gigamon-for-1-6b/2017/10/

Gigamon, a network visibility company, today agreed to be acquired by private-equity firm Elliott Management for $1.6 billion. Shares of Gigamon rose nearly 6 percent after hours, following the announcement of the acquisition. Elliot Management launched the buyout offer from Evergreen Coast Capital, one of Elliot’s affiliates, in early September.

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The deal is expected to close in Q1 2018, after which Gigamon will become a private company. Elliott will pay $38.50 per share, in cash, for each share of Gigamon. The purchase comes at a premium of 21 percent.

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