The transaction is sourced from an SEC EDGAR Form 8-K filing published on September 9, 2024. Based on the facts provided, the deal's status is pending regulatory approval.
On the financial advisory side, Citi is serving as the exclusive financial advisor for Progress, the acquirer, on this transaction, and is identified as the lead advisor in that capacity. On the target side, Jefferies LLC and Barclays Capital Inc. are both serving as financial advisors to Cloud Software Group, the seller of ShareFile, reflecting two financial advisors working together for the target in this transaction.
On the legal side, DLA Piper LLP (US) is serving as Progress' legal counsel, the acquirer's legal advisor. Kirkland & Ellis LLP is serving as legal counsel to Cloud Software Group, the target/seller side of the transaction.
Beyond confirming that this is a cash acquisition with a disclosed value of 875,000,000 dollars, no further detail on the specific payment structure or any adjustment mechanisms tied to the purchase price is included in the facts available.
A number of elements of this deal are not disclosed. No expected closing date is given, and no detail is provided on any potential purchase price adjustments or escrow arrangements tied to the 875,000,000 dollar disclosed value. The facts also do not specify what regulatory approvals, if any, are required to complete the transaction.