NEW
YORK, April 10, 2023 /PRNewswire/ -- Shareholder
rights law firm Julie & Holleman LLP is investigating the
proposed $8.50 per share
($4.6 billion) acquisition of Cvent
Holdings Corp. (Nasdaq: CVT) by affiliates of private equity firm
Blackstone Inc.
For a free consultation and to learn more about our
investigation, click here.
Cvent is a leading meetings, events, and hospitality technology
provider with more than 4,800 employees and over 21,000 customers
worldwide as of September 30, 2022.
The company was founded in 1999. In 2016, private equity firm Vista
Equity Partners acquired the company for $1.3 billion. And in 2021, Vista took Cvent
public through a "de-SPAC" transaction that valued the company at
$5.3 billion. Since then, Cvent has
continued to make strides in executing its business strategy, but
recent economic conditions have forced the company's stock price
downward.
On March 14, 2023, Cvent announced
that Blackstone agreed to acquire the company for $8.50. As part of the deal, members of Cvent's
management and Vista may continue to participate in the company's
upside either through a share "roll over" or new investment. Cvent
management is also expected to stay on with the company. The deal
is expected to close mid-2023.
Julie & Holleman is investigating potential legal claims
regarding the fairness of the $8.50
per share merger price. Cvent went public at much higher than the
deal price, and Blackstone appears to be seizing on short-term
trends. Separately, there are issues over potential conflicts,
including Vista's and management's role with the post-close
company.
If you would like more information about Julie & Holleman's
investigation, please contact W. Scott
Holleman at scott@julieholleman.com or (929) 415-1020. You
may also visit the firm's website by clicking here.
Julie & Holleman is a boutique law firm that focuses on
shareholder litigation, including derivative actions, mergers and
acquisitions cases, securities fraud class actions, and corporate
investigations. The firm's attorneys litigate in state and federal
courts across the nation and have helped secure hundreds of
millions of dollars for aggrieved companies and their shareholders.
For more information about the firm, please visit
https://www.julieholleman.com/. This notice may constitute attorney
advertising.
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SOURCE Julie & Holleman LLP