Darktrace Takeover Rumours (DARK)

Darktrace set to leave London Stock Exchange at end of SeptemberDarktrace shares are set to stop trading publicly at the end of September, after the company set a timetable for its blockbuster private equity takeover to be completed.The private equity group Thoma Bravo struck an almost 5.31 billion dollar (£4.3 billion) deal to buy Darktrace in April.It marks one of the biggest take-private deals for a London-listed company in recent years, and will see Darktrace leave the FTSE 100 on October 1.The newly published timetable shows the last day of dealings in Darktrace shares to be September 30, giving investors just two weeks before the company leaves public markets.

Without the TB bid, this stock would have easily traded above £6.20 and increased further with a brighter outlook and a couple of rate cuts before the year's end. The board of Darktrace should be disgraced for valuing the company so cheaply. In the meantime, the shareholders are stuck with the shares trading below the offer price until the takeover is completed.

What happens if enough shareholders vote against the takeover? Surely it isn't a done deal yet without sufficient shareholder agreement.