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Sophos Co-Founders Set To Dispose Of Stakes In 55.7 Million Share Sale

Wed, 04th Dec 2019 17:03

(Alliance News) - Sophos Group PLC co-founders Jan Hruska and Peter Lammer will look to sell a total of 55.7 million shares in the cybersecurity company through an accelerated bookbuild, sale co-ordinators Barclays Bank PLC said on Wednesday.

The shares total 11% of the FTSE 250 firm's share capital, which is the object of an agreed GBP3 billion takeover offer from US-based private equity firm Thoma Bravo LLC. Should Hruska and Lammer complete the sale, it is expected that they will no longer have a stake in the company, Barclays said.

In November, the co-founders sold 23.9 million shares in Sophos. Barclays, which also co-ordinated that sale, said the duo sold the shares at USD7.32 each, netting a combined USD174.9 million.

Shares in Sophos closed 0.6% lower at 558.60 pence each in London on Wednesday.

By Eric Cunha; ericcunha@alliancenews.com

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