Sumeru Equity Partners has agreed a to acquire Q4 Inc, a specialist in helping companies communicate with shareholders and hold virtual events, in a take-private deal valued at CAD257m, according to a report The Canadian Press.
Under the terms of the deal, Sumeru will pay CAD6.05 per share for Q4, with the firm’s stock price climbing by CAD1.52 to CAD5.96 in trading on the Toronto Stock Exchange on Monday morning when news of the deal first broke.
The agreement includes a go-shop provision which allows Q4 to solicit, evaluate and enter into talks regarding potentially superior bids.
The deal, which requires shareholder approval, is expected to close in the first quarter of 2024.
