Ithaca Holdings Initiates Buyout of Bumble Amid Shareholder Review
- Reports
- 15
- Developments
- 4
- Repetition
- 73%
New informationRepeats or wire copies
What happened
Ithaca Holdings is attempting to acquire Bumble in an all-cash transaction, which would value the company at approximately $1.3 billion, according to one report, or $1 billion, according to another. Bumble shareholders would receive $6.05 per share in the proposed deal. An independent law firm is investigating whether the acquisition provides fair value to shareholders and if the Bumble Board adequately protected their interests.
Why it matters
The proposed acquisition fundamentally changes the ownership and strategic direction of Bumble. The news of the buyout caused Bumble shares to jump 47.8% in the afternoon session. The deal occurs amid market pressures caused by the U.S. 10-year Treasury yield climbing to multiyear highs.
Who's involved
- BumbleThe American social network and dating platform being acquired.
- Ravi GuptaFounder of Ithaca Holdings, the firm attempting the acquisition.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
Possible ripples
Who this could reach next, traced step by step from the reporting. Possibilities worth considering, not forecasts.- Bumble's potential buyout may remove it from Nasdaq listingsBumble's acquisition by Ithaca Holdings could remove a listed company from Nasdaq.Likely
- Bumble's acquisition triggers SEC regulatory oversightThe privatization of Bumble requires formal regulatory oversight from the SEC.Likely
- Bumble's acquisition could change Badoo's operational controlBumble's acquisition by Ithaca Holdings may change Badoo's operational control.Possible
- Match Group may face shifts as competitor Bumble is acquiredMatch Group may face shifts as competitor Bumble is acquiredPossible
How it developed
Newest first. Tap a step to see who reported it.Negotiations for a buyout deal involving Ithaca Holdings are currently underway.1 source
The board is under investigation regarding the proposed acquisition of Bumble by Ithaca.1 source
Bumble is being acquired by Ithaca Holdings, founded by Ravi Gupta.1 source
Ithaca Holdings is attempting to take Bumble private.1 source
Keep exploring
The entities involved
-
Bumble
American social network and dating platform
Nothing else this week.
-
Ravi Gupta
researcher (ORCID 0000-0001-5242-9528)
Nothing else this week.