Business & FinanceDeals
26 May 2023, 6:06 pm 1 minute
Reuters exclusively reported that private equity firms Francisco Partners and TPG have ended talks to acquire New Relic after they failed to secure enough debt financing and could not meet the business software company’s valuation expectations. Shares of New Relic dropped 5% after Reuters broke the news. The demise of the deal negotiations underscores the challenges facing private equity firms seeking to put together leveraged buyouts.
Market Impact
Shares of New Relic dropped 5% after Reuters broke the news. The demise of the deal negotiations underscores the challenges facing private equity firms seeking to put together leveraged buyouts.
Article Tags
Topics of Interest: Business & FinanceDeals
Type: Reuters Best
Sectors: Business & Finance
Regions: Americas
Countries: United States
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Significant National Story
Credit
1: https://www.reutersagency.com/en/reutersbest/article/francisco-partners-tpg-end-talks-to-buy-new-relic/
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