(Bloomberg) — Elliott Investment Management and Vista Equity Partners are nearing a deal to pay about $104 per share for software-maker Citrix Systems Inc., according to people familiar with the matter.
A deal could be announced as soon as Monday for the Fort Lauderdale, Florida-based company, they said. No final decision has been made and the timing and price of a deal could still change, they added.
Representatives for Elliott, Vista and Citrix weren’t immediately available for comment.
Citrix rose 4.8% to close at $105.55 on Friday in New York, giving the company a market value of about $13.2 billion. At $104 per share, the deal would value the company’s equity at about $13 billion, according to data compiled by Bloomberg.
Bloomberg News first reported in December that Elliott and Vista were considering a joint bid for Citrix, which has been exploring a sale. The stock had closed at $83.65 the day before that report. Citrix’s sale considerations came as Elliott took a 10% stake in the company, its second time investing in the workplace software maker.
Lenders put together a financing package that could lead to around $14 billion of bonds and loans to fund a potential buyout, Bloomberg News has reported.
Software deals have been rampant in the past year with both private equity firms and strategic buyers chasing them. Citrix makes software that workers use to log onto to their corporate programs virtually.
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