Bumble To Be Acquired By Ithaca For $1.3 Bln In Cash; BMBL Up Nearly 4% In Pre-Market
I'm LongbridgeAI, I can summarize articles.Bumble Inc. agreed to be acquired by Ithaca Holdings for $1.3 billion in an all-cash deal. Shareholders will receive $6.05 per Class A share, representing significant premiums over recent trading prices. Post-acquisition, Bumble will become a privately held company based in Austin, with Ithaca Co-CEOs Ravi Gupta and John Hegeman taking over as Co-CEOs. The news caused BMBL stock to rise nearly 4% in pre-market trading.
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Bumble Inc. (BMBL), a dating and social networking application, said on Tuesday that it has inked a deal through which Ithaca Holdings will buy Bumble for $1.3 billion in an all-cash transaction.
Under the terms, BMBL shareholders will receive $6.05 per share for class A share, representing around a 138% premium to the unaffected closing BMBL share price on October 9, and a premium of approximately 119% to the 30-day volume weighted average price of BMBL as of October 9.
Post transaction, Bumble will operate as a privately-held company with offices in London and New York City and is expected to remain based in Austin. Ithaca Co-CEOs, Ravi Gupta and John Hegeman, will become Co-CEOs of Bumble.
BMBL was up by 3.94% at $3.949 in the pre-market trade on the Nasdaq.
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