Gigamon plans new debt financing for buyout by Elliott Management

By Sara Rosenberg

New York, Oct. 26 – Gigamon Inc. has received a commitment for debt financing to help fund its acquisition by Elliott Management, according to an 8-K filed with the Securities and Exchange Commission on Thursday.

Jefferies LLC is the lead on the debt.

Under the agreement, Gigamon is being bought for $38.50 per share in cash, for a total value of about $1.6 billion.

Other funds for the transaction will come from equity.

Closing is expected in the first quarter of 2018, subject to customary conditions, including regulatory approvals and shareholder approval.

Gigamon is a Santa Clara, Calif.-based provider of active visibility into physical and virtual network traffic, enabling stronger security and performance.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.