Websense (NASDAQ: WBSN ) shareholders have until June 25 to decide on a $24.75-a-share acquisition offer by Vista Equity Partners.
The board of cyber attack security specialist Websense has agreed to be acquired by Vista Equity Partners in the $903 million deal announced earlier this month. This morning, the companies announced that the tender offer for all of the outstanding shares of Websense common stock has begun.
Pursuant to the merger agreement, once the tender offer is completed and once certain conditions have been met or waived, all outstanding shares will be automatically cancelled and converted into the right to receive cash equal to the buyout price.
The conditions to which the completion of the tender offer is subject include the satisfaction of a minimum tender condition and the expiration or termination of the waiting periods under the Hart-Scott-Rodino Antitrust Improvements Act.
Websense's board of directors urges shareholders to tender their shares and if necessary vote in favor of the merger agreement. The tender offer and withdrawal rights are scheduled to expire at 9 a.m., New York City time, on Tuesday, June 25.
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