{"id":36163,"date":"2020-07-17T07:50:27","date_gmt":"2020-07-17T07:50:27","guid":{"rendered":"http:\/\/c6a793a4-c11c-4037-bc02-9072da4ae502"},"modified":"2020-07-17T07:50:27","modified_gmt":"2020-07-17T07:50:27","slug":"back-on-track-forescout-advent-agree-new-merger-price-drop-covid-19-lawsuit","status":"publish","type":"post","link":"https:\/\/www.threatshub.org\/blog\/back-on-track-forescout-advent-agree-new-merger-price-drop-covid-19-lawsuit\/","title":{"rendered":"Back on track: Forescout, Advent agree new merger price, drop COVID-19 lawsuit"},"content":{"rendered":"<div><img decoding=\"async\" src=\"https:\/\/zdnet1.cbsistatic.com\/hub\/i\/r\/2020\/07\/17\/aa1d6b63-5110-40a2-ba7e-e2fc38ce375d\/thumbnail\/770x578\/06673a35b093d3a54eccc7d6407c4667\/screenshot-2020-07-17-at-07-50-40.png\" class=\"ff-og-image-inserted\"><\/div>\n<p>A merger between Forescout Technologies and Advent International is now back on track with a new acquisition price agreed upon.&nbsp;<\/p>\n<p>Global private equity investor Advent <a href=\"https:\/\/www.zdnet.com\/article\/device-security-firm-forescout-snapped-up-by-advent-in-1-9-billion-deal\/\" target=\"_blank\" rel=\"noopener noreferrer\">announced the acquisition<\/a> of device and network security firm Forescout in February. The deal was originally inked for $1.9 billion, in which Advent intended to buy Forescout common stock for $33 per share, a premium of approximately 30 percent.&nbsp;<\/p>\n<p><strong>See also:&nbsp;<\/strong><a href=\"https:\/\/www.zdnet.com\/article\/device-security-firm-forescout-snapped-up-by-advent-in-1-9-billion-deal\/\" target=\"_blank\" rel=\"noopener noreferrer\">Device security firm Forescout snapped up by Advent in $1.9 billion deal<\/a> <\/p>\n<p>The deal obtained the necessary board approval and was expected to close in Q2 2020.&nbsp; <\/p>\n<p>However, as the novel coronavirus began to spread worldwide, the business world experienced severe disruption with offices shut, staff forced to work from home, and in some cases, companies either closing down entirely or going through restructuring to cut costs.&nbsp; <\/p>\n<p>Acquisitions, too, were in the firing line. By May, Advent withdrew from the planned purchase of San Jose, Calif.-based Forescout, citing &#8220;material&#8221; changes at Forescout caused by COVID-19.&nbsp; <\/p>\n<p>In return, Forescout <a href=\"https:\/\/www.zdnet.com\/article\/forescout-files-lawsuit-against-advent-over-withdrawal-of-merger-plans-due-to-covid-19\/\" target=\"_blank\" rel=\"noopener noreferrer\">filed a lawsuit<\/a> in the Delaware Court of Chancery, alleging that by withdrawing from the agreement, Advent violated the terms of the deal. Forescout asked the court to force Advent to complete the merger.&nbsp; <\/p>\n<section class=\"sharethrough-top\" data-component=\"medusaContentRecommendation\" data-medusa-content-recommendation-options=\"{&quot;promo&quot;:&quot;promo_zd_recommendation_sharethrough_top_in_article_desktop&quot;,&quot;spot&quot;:&quot;dfp-in-article&quot;}\"> <\/section>\n<p><strong>CNET:&nbsp;<\/strong><a href=\"https:\/\/www.cnet.com\/news\/huawei-ban-full-timeline-us-restrictions-china-trump-executive-order-uk-ban-visa\/?ftag=CMG-01-10aaa1b\" target=\"_blank\" rel=\"noopener noreferrer\" data-component=\"externalLink\">Huawei ban timeline: US hits Chinese company&#8217;s employees with visa restrictions<\/a> <\/p>\n<p>Now, the pending litigation has been dropped as the companies have agreed upon a way forward that will see the merger finally complete &#8212; albeit at a lower purchase price.&nbsp; <\/p>\n<p>The amended agreement has been agreed at $29 per share, a $4 per share drop. This is 12% lower than the original agreement, but 16% above closing share prices of $25 on July 15.&nbsp; <\/p>\n<p>&#8220;We believe this was the best outcome for both parties,&#8221; Forescout says.&nbsp; <\/p>\n<p><strong>TechRepublic:&nbsp;<\/strong><a href=\"https:\/\/www.techrepublic.com\/article\/cybercriminals-disguising-as-top-streaming-services-to-spread-malware\/?ftag=CMG-01-10aaa1b\" target=\"_blank\" rel=\"noopener noreferrer\" data-component=\"externalLink\">Cybercriminals disguising as top streaming services to spread malware<\/a> <\/p>\n<p>The company added that the new agreement represents a &#8220;solid outcome&#8221; for its shareholders, and while a reduction in price &#8220;is not ideal in a perfect world,&#8221; the current situation caused by COVID-19 has to be kept in mind.&nbsp; <\/p>\n<p>In other words, the completion of a deal is better than a court case and a failed merger. In addition, Advent avoids potentially expensive breakup fees, should the company have been found to have been at fault in the courtroom.&nbsp; <\/p>\n<p>Advent will make a tender offer by July 20 and the new transaction is expected to close in Q3 2020.&nbsp; <\/p>\n<h3> Previous and related coverage <\/h3>\n<hr>\n<p><strong>Have a tip?<\/strong> Get in touch securely via WhatsApp | Signal at +447713 025 499, or over at Keybase: charlie0<\/p>\n<hr>\n<p> READ MORE <a href=\"https:\/\/www.zdnet.com\/article\/back-on-track-forescout-advent-agree-new-merger-price-drop-covid-19-lawsuit\/#ftag=RSSbaffb68\">HERE<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Forescout says this is the \u201cbest outcome for both parties.\u201d<br \/>\nREAD MORE HERE&#8230;<\/p>\n","protected":false},"author":2,"featured_media":36164,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","footnotes":""},"categories":[62],"tags":[],"class_list":["post-36163","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-zdnet-security"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Back on track: Forescout, Advent agree new merger price, drop COVID-19 lawsuit 2026 | ThreatsHub Cybersecurity News<\/title>\n<meta name=\"description\" content=\"ThreatsHub Cybersecurity News | ThreatsHub.org | Cloud Security &amp; Cyber Threats Analysis Hub. 100% Free OSINT Threat Intelligent and Cybersecurity News.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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