Acquisition | TECHTARGET | 3rd December 2024
On January 10, 2024, INFORMA PLC and TECHTARGET announced that the companies entered into a definitive agreement whereby INFORMA PLC will combine the Informa Tech digital businesses with TECHTARGET to create a new publicly listed company (“New TechTarget”). TECHTARGET shareholders approved the Acquisition on November 26, 2024. Upon completion of the Acquisition, TECHTARGET shareholders will receive (i) one share of New TechTarget per each share held and (ii) a pro rata share of an amount in cash equal to USD350 million plus any Adjusted EBITDA Cash Increase Amount (approximately USD11.71 per share). Following the closing, TECHTARGET will be delisted from Nasdaq, and New TechTarget shares of common stock are expected trade on Nasdaq under the stock ticker symbol “TTGT”. Pending the completion of customary closing conditions, the Acquisition is expected to be completed on December 2, 2024.
The treatment below will be applied to the following indices:
- TECHTARGET will be removed from the Index.
- The weight of TECHTARGET (TTGT.OQ) based on its last close price will be distributed pro rata to remaining Index constituents.
- Effective Date (open): 03/12/2024
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