Needham analyst Scott Berg downgraded Smartsheet to Hold from Buy after the company agreed to be acquired by funds managed by Blackstone (BX) and Vista Equity Partners in an all-cash transaction valued at approximately $8.4B, or $56.50 per share in cash.
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- Smartsheet to be acquired by Blackstone, Vista Equity for $56.50 per share
- Smartsheet deal ‘done’ at $56.50 a share in cash, CNBC’s David Faber says