Bumble Agrees to $1.3 Billion Take-Private Deal as JPMorgan Misses Estimates
Photo: TokenPost
Bumble Inc. agreed Tuesday to a $1.3 billion all-cash acquisition by Ithaca Holdings, giving shareholders a $6.05-per-share payment and extending the dating-app operator’s sharp stock rally. The offer represents a 138% premium to Bumble’s unaffected closing price. The transaction remains subject to closing conditions. The deal follows Bumble’s 49.61% share-price surge on Monday , when the stock closed at $3.80 after ending Friday at $2.54. Shares rose more than 57% in Tuesday premarket trading after the acquisition announcement. JPMorgan Chase missed Wall Street estimates for third-quarter earnings and revenue.
Source: TokenPost
