The proposed privatization of Jamf Holding has encountered significant legal and investor resistance, casting doubt on the transaction’s completion. A law firm has initiated an investigation into whether shareholders are receiving fair treatment in the going-private deal, with the proposed acquisition price of $13.05 per share becoming a central point of contention.
Governance Questions Emerge in Takeover Process
Vista Equity Partners, Jamf’s majority stakeholder controlling 34.4% of shares and occupying four of nine board seats, finds itself at the center of the controversy. Market observers have raised questions about potential conflicts of interest, particularly given the absence of an independent review committee for the transaction. Adding to the governance concerns, Vista will participate in the upcoming shareholder vote determining the deal’s outcome.
Legal representatives from Bleichmar Fonti & Auld are examining whether Jamf’s board violated its fiduciary duties by accepting an offer that represents a substantial discount. At $13.05 per share, investors would exit their positions more than 26% below the stock’s 52-week high of $15.40.
Strong Financial Performance Contrasts With Acquisition Terms
The timing of the acquisition proposal appears particularly questionable given Jamf’s recent financial achievements. In November, the Apple device management specialist reported impressive quarterly results, including a 15% revenue increase to $183.5 million and annual recurring revenue reaching $729 million. The company’s security business demonstrated especially robust growth, expanding by 44%.
Should investors sell immediately? Or is it worth buying Jamf Holding?
Further strengthening the case for a higher valuation, operational cash flow nearly tripled while adjusted earnings per share of $0.25 exceeded market expectations. Against this backdrop of financial strength, many analysts consider the $13.05 acquisition price insufficient.
Shareholders Face Critical Decision
While Jamf shares currently trade at €11.30, reflecting a 2.7% gain, the real battle unfolds behind the scenes as investors weigh their options. The central question remains whether the current offer will secure sufficient shareholder support or whether acquiring parties will need to improve their bid to secure approval.
Jamf investors now confront a difficult choice: accept the current proposal at what many consider an undervalued price, or hold out for better terms while risking the deal’s complete collapse. The outcome of this corporate struggle will determine whether the company transitions to private ownership or remains publicly traded.
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