Author all Herbst-Bayliss and Anirban Sen
New York (Reuters) – Rapid7 is approaching a settlement with activist investor Jana Partners after the Cyber - Safe Fund has discussed the ways of increasing the price of shares by improving operations and sales research, for Reuters two people are familiar with this question.
Three newcomers would join an eight -member committee under the conditions that are discussed, said people who were not allowed to talk publicly about private negotiations.
The agreement could be announced on Monday, but the situation is still fluid, sources said.
Jana Partners refused to comment.
Representatives for Rapid7 did not respond to the comment requests.
Boston based in Boston Spirit7 specializes in the so -called vulnerability management, providing software tools and services that help companies evaluate and monitor security risks. The company was forced to compete harder for business because corporate clients reduced their consumption to safety due to wider macroeconomic insecurity.
The price of the company’s stock has fallen 41% in the last 52 weeks, reducing 28% this year, reducing its market value to approximately $ 1.8 billion.
Jana owned 3.7 million shares or a 5.8% share in the company, according to regulatory application in March, according to LSEG data.
Reuters reported in October that Rapid7 investigated options with investment bankers after attracting interest in buying a purchase company, including Advent, Bain Capital and EQT.
The Barclays industry shows that 119 board headquarters were won by activist investors in companies 2024, and 76% came through settlements.
(Reporting Svea Herbst-Bayliss and Anirban Sen; Mounting Lisa Shumaker)
