Cadwalader Advises Thoma Bravo on Reduction in Purchase Price for Anaplan

June 07, 2022

Cadwalader is advising Thoma Bravo in connection with the $2.25 per share reduction in its purchase price for Anaplan, Inc. The adjusted price represents a total deal value of $9.6 billion. Thoma Bravo is a leading private equity firm with more than $114 billion in assets under management. Anaplan is a cloud-native enterprise software-as-a-service (SaaS) company. The price reduction is based upon Thoma Bravo’s assertion that certain covenants in the merger agreement were breached by Anaplan.

Thoma Bravo is one of the U.S.'s leading private equity firms, having acquired or invested in more than 380 companies to date. The firm focuses on the growth-oriented, innovative companies operating in the software and technology sectors. This transaction further strengthens Cadwalader’s relationship with Thoma Bravo, which has included several significant, multi-billion dollar corporate and litigation matters in the past year.

The Cadwalader team was led by Corporate partners Stephen Fraidin and Greg Patti and Litigation partner Jonathan Watkins and includes Litigation special counsel Matthew Karlan and associate Victor Celis and Corporate associate Cheyenne Karp.