AdTheorent Says Third-party Withdraws Acquisition Offer Of $3.35/share; Stock Down
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 16 2024
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Source: NASDAQ.COM
- Withdrawal of Acquisition Proposal: A third party withdrew a non-binding acquisition proposal to acquire AdTheorent Holding Company, Inc. for $3.35 per share and does not plan to submit another offer.
- New Acquisition Agreement: Cadent, LLC, a company under Novacap, agreed to acquire AdTheorent for $3.21 per share in cash, totaling around $324 million.
- Antitrust Review Completion: The waiting period for the Antitrust review under the Hart-Scott-Rodino Act ended on May 6, and AdTheorent and Cadent are now bound by the Merger Agreement.
- Stock Trading Activity: ADTH stock was down by 7.45 percent, trading at $3.170 on the Nasdaq exchange.
- Disclaimer: The expressed views and opinions in the statement belong to the author and may not represent those of Nasdaq, Inc.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
