For better or worse, shareholders no longer have to worry about the repeated restructuring efforts at Blue Coat Systems (Nasdaq:BCSI), nor the competitive inroads being made by the likes of Riverbed (Nasdaq:RVBD), Cisco (Nasdaq:CSCO) or Fortinet (Nasdaq:FTNT). Private equity investors have stepped up and put an end to this story with an acquisition agreement. Though some shareholders may resent that management took a buyout price some 20% below the 52-week high, the reality is that this is a more-than-fair offer for a company that has been on skids for some time.
The Deal
An investor group led by Thoma Bravo and including the Ontario Teachers' Pension Plan has offered to acquire Blue Coat Systems for $1.3 billion, or $25.81 per Blue Coat share, in cash. That price represents a premium of 48% to Thursday's close, but merely matches the price of this stock seven months ago.
Read the full piece here:
http://stocks.investopedia.com/stock-analysis/2011/Blue-Coat-Now-Somebody-Elses-Problem-BCSI-RVBD-CSCO-FTNT1213.aspx
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