Deals
Sandvine Shares Jump as Francisco Partners Said to Weigh Bid
- Sandvine agreed to C$483 million buyout by Vector Capital
- Francisco said to consider Sandvine combination with Procera
This article is for subscribers only.
Shares in Sandvine Corp. jumped to their highest price in more than two years Tuesday, after Bloomberg reported that U.S. private equity firm Francisco Partners is weighing a rival bid for the Canadian technology company.
Sandvine rose more than 5 percent, the biggest move since the company agreed in May to be taken over by Vector Capital for C$483 million ($365 million). Shares traded at C$4.01 apiece in Toronto at 9:52 a.m., above Vector’s offer price of C$3.80 each.