Smartsheet Stock Jumps On News of $8.4B Sale to Vista, Blackstone

Group 1 - Smartsheet has agreed to be acquired by Blackstone and Vista Equity Partners for $8.4 billion, offering investors $56.50 per share, which is an 8.5% premium over the previous closing price [1][2] - The acquisition represents a 41% premium to the volume weighted average closing price for the 90 days leading up to July 17, prior to media reports about a potential sale [1] - Following the announcement, Smartsheet shares increased by more than 6%, reaching their highest levels since early 2022 [2] Group 2 - The merger aims to enhance Smartsheet's platform accessibility for all organizations and teams that rely on collaborative work for successful outcomes, according to Vista Equity Partners directors [2] - Smartsheet has a 45-day "go-shop" period to seek other potential buyers before the transaction is finalized, which is expected to close on January 31 [1]