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Web.com to be acquired for $2 billion
Kevin Murphy,
June 26, 2018, 12:13:48 (UTC),
Domain Registrars
Web.com is to go private in a deal valued at roughly $2 billion.
The company, which owns pioneering registrars Network Solutions and Register.com as well as SnapNames and half of NameJet, will be bought by an affiliate of Siris Capital Group, a private equity firm.
The cash, $25-a-share deal has been approved by the Web.com board but is still open to higher bids from third parties until August 5.
The offer is a 30% premium over Web.com’s 90-day average price prior to the deal’s announcement.
While Nasdaq-listed Web.com has briefly topped $26 over the last year, you’d have to go back five years to find it consistently over the $25 mark.
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