Gigamon plans $550 million in term loans for buyout by Elliott

By Sara Rosenberg

New York, Oct. 30 – Gigamon Inc. has received a commitment for up to $550 million in term loans to help fund its acquisition by Elliott Management, according to an SC 13D/A filed with the Securities and Exchange Commission on Monday.

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 up to $838 million of 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.

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