Splunk Inc. and its directors allegedly misrepresented key details about a proposed acquisition of the company by Cisco Systems Inc. in a proxy filing, according to a shareholder lawsuit filed Friday.
The software company and its board issued the misleading proxy statement on Oct. 18, soliciting shareholder votes in favor of the proposed $28 billion transaction, which would pay $157 in cash per share of Splunk stock, the complaint filed in the US District Court for the Northern District of California says.
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As AI matures into multifunctional agents it will render boxes and networking software obsolete. Cisco and their peers will be irrelevant in less than 10 years.
This is very common - happens a majority of the time during an acquisition. No need to get spun up on the news - nothing will come of it.
Companies that seek growth solely through acquisition are eventually acquired themselves.
Right now Cisco's market value is still over $193B. Who is big enough to eat that and get real value from that purchase? Cisco's big sales pitch is everything comes from one place and they'll make sure the pieces interoperate which if true means the whole should be worth more than the sum of the parts.
Cisco survived a 90% drop in market value because the drop affected the whole market, Cisco was still the 800lb gorilla and they had a poison pill. If Cisco drops 90% because the business went to their competitors I'm not seeing a case to acquire the remains.
Anyone know what’s actually alleged? The article is paywalled.
Companies that can, grow. Companies that cannot, acquire. Companies that seek growth solely through acquisition are eventually acquired themselves.
What the Splunk is this?
What a ridiculous acquisition. I hope this cancels it.
“ Why wasn’t this mentioned on the earnings call last week?”
Because Chuck was busy getting Splunked all over his face. Chuck lies, repeatedly and transparency is not something he practices. He is too used to lying. Not just to the employees but also to Wall St. Time the spineless Cisco board grew a pair and did to him what the OpenAI board did to their CEO.
Why wasn’t this mentioned on the earnings call last week?
Awww! Splunk also sued for s-xual harassment by an employee. And now this from the shareholders!
I guess CR got splunked all over his face. Glory be Gis! Hallelujah! Could this be the beginning of the end of Chucky’s world?
Maybe Chuck will wake up brain and back out of this deal and save $28B in wasted stockholder cash