Kirkland Advises Vista on $8.4 Billion Acquisition of Smartsheet

Kirkland & Ellis is advising Vista Equity Partners on the $8.4 billion acquisition of workplace collaboration software maker Smartsheet, which was announced September 24, 2024. Funds managed by Vista and Blackstone agreed to purchase the company in an all-cash transaction. Under terms of the agreement, the buyers would acquire all the outstanding shares held by Smartsheet's shareholders for $56.50 per share in cash, which represents a premium of approximately 41% to the volume weighted average closing price of Smartsheet's stock for the 90 trading days ending on July 17, 2024, the last full trading day prior to media reports regarding a possible sale transaction. The transaction is currently expected to close in the fourth quarter of Smartsheet's fiscal year ending January 31, 2025, subject to the approval of Smartsheet's shareholders, the satisfaction of required regulatory clearances and other customary closing conditions.

Read the transaction press release

The Kirkland team was led by corporate partners Jonathan Davis, Ari Levi, Andrew Norwich and Stuart Casillas and associates John Sheridan, Hayley Gilbert and Mark Keohane; debt finance partners Sonali Jindal and Austin Glassman and associate Jae Ha; capital markets partner Bob Goedert; executive compensation partners Rohit Nafday and Katherine Nemeth; tax partners David Kung and Heidi Yuen; technology & IP transactions partners John Lynn and Daisy Darvall; and antitrust & competition partners Marin Boney and Mark Gardner.