Deals
Coupa Holder HMI Says Firm Should Fetch $95 a Share in Sale
- HMI Capital says will only support sale after proper process
- Investment firm owns 4.8% stake in software company Coupa
The Coupa Software logo is seen displayed on a smartphone.
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A top shareholder in Coupa Software Inc. said the software company should fetch at least $95 a share in a sale after getting interest from at least one potential buyer.
HMI Capital Management said in a letter to the company’s board on Monday that Coupa is an excellent business with a great management team. HMI Capital, which owns a 4.8% stake in Coupa, said it wouldn’t support any transaction unless it was at the right price and followed a proper sales process. It said it may be a difficult time to realize the full value of the business in the current market.