Deals
Blue Prism Investor Coast to Reject $1.5 Billion Vista Takeover
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Coast Capital plans to vote against Vista Equity Partners’s 1.1 billion-pound ($1.5 billion) bid for U.K. automation software developer Blue Prism Group Plc.
The activist investor said in a letter to Blue Prism’s board, seen by Bloomberg News, that it will encourage other shareholders to reject Vista’s 11.25 pound-per-share offer, which it said “vastly undervalues” the company. Coast owns about 3 million Blue Prism shares.