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 scott@julieholleman.com.
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
scott@julieholleman.com 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