PR Newswire
NEW YORK, Aug. 5, 2024
NEW YORK, Aug. 5, 2024 /PRNewswire/ -- Julie & Holleman LLP, a nationally recognized shareholder rights firm, is investigating the proposed $1.75 billion buyout of Thoughtworks Holding, Inc. (NASDAQ: TWKS) by private equity fund Apax Partners LLP.
For a free, no-risk consultation, please visit https://julieholleman.com/thoughtworks-holding-inc/, or contact firm partner Scott Holleman by email at [email protected].
Thoughtworks is a global technology consultancy that integrates strategy, design, and engineering to drive digital innovation. Its largest shareholder is Apax, which owned the company before its IPO, currently controls roughly 60% of the company's stock, and has numerous representatives on the board of directors.
On August 5, 2024, Thoughtworks announced an agreement that it would be acquired by Apax for $4.40 per share in cash. Shareholders will not even get to vote on the deal, which is expected to close by the end of this year.
While Thoughtworks' public shareholders are being cashed out at $4.40 per share, Apax will continue participating in the company's upside. According to Marketbeat, Wall Street analysts' average price target for Thoughtworks is $4.52 per share, and the high target is $8 per share. The deal price is also far less than what the company traded at just earlier this year, when it was valued over $5 per share. Indeed, Julie & Holleman is concerned that Apax is taking advantage of a short-term stock price weakness and the recent CEO transition.
Julie & Holleman is dedicated to pursuing claims on behalf of current Thoughtworks stockholders. If you would like more information about our investigation, or about the acquisition in general, please visit here, or contact firm partner Scott Holleman by email at [email protected] or by telephone at (929) 415-1020.
Julie & Holleman is a boutique law firm that focuses on shareholder litigation, including derivative actions, mergers and acquisitions cases, securities fraud class actions, and corporate investigations. The firm's attorneys litigate in state and federal courts across the nation and have helped secure hundreds of millions of dollars for aggrieved companies and their shareholders. For more information about the firm, please visit www.julieholleman.com. This notice may constitute attorney advertising.
CONTACT INFORMATION
Julie & Holleman LLP
W. Scott Holleman, Esq.
157 East 86th Street
4th Floor
New York, NY 10028
(929) 415-1020
www.julieholleman.com
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SOURCE Julie & Holleman LLP
