(Alliance News) - Sophos Group PLC's suitor Thoma Bravo LLC on Monday said its potential takeover of the company now has the support of 28% of the cybersecurity firm's shareholders.
The FTSE 250 constituent agreed to the GBP3 billion takeover offer from the US-based private equity firm in October.
Nick Bray, former finance chief at Sophos, sold his 0.1% stake in the company when he stepped down on Wednesday.
Thoma Bravo explained: "As a result, the total number of Sophos shares in respect of which Bidco has received irrevocable undertakings has decreased by 281,282 Sophos Shares to a total number of 138,196,826 Sophos Shares, which represents approximately 28.3% of the existing ordinary share capital of Sophos as at November 6."
Shares in Sophos were marginally lower at 571.80 pence each in London on Monday morning.
By Eric Cunha; ericcunha@alliancenews.com
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