Workday Take-Private Financing Gains Momentum, CNBC Reports
WDAY sits 80% above its 52-week low of $110.36 on light trading volume (0.3× avg).
Summary
CNBC's David Faber reports increased optimism that Silver Lake's take-private financing for Workday is progressing, citing people familiar. This follows the initial Reuters report on Aug. 13 that sent shares up 18%. The stock rose 2.1% on the update, indicating the market still sees a deal as plausible. With a market cap near $48B, a buyout would be among the largest software LBOs ever. Watch for formal confirmation of financing commitments or a definitive agreement.
At the time of this announcement, WDAY was trading at $198.67 on NASDAQ in the Technology sector, with a market capitalization of approximately $47.9B. The 52-week trading range was $110.36 to $249.85. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Seeking Alpha.