IN RE TIBCO SOFTWARE INC. STOCKHOLDERS LITIGATION

Consolidated C.A. No. 10319-CB.

IN RE TIBCO SOFTWARE INC. STOCKHOLDERS LITIGATION.

Court of Chancery of Delaware.

Decided: November 25, 2014


Attorney(s) appearing for the Case

Stuart M. Grant and Cynthia A. Calder of GRANT & EISENHOFER, P.A., Wilmington, Delaware; Mark Lebovitch , Richard Gluck , Edward G. Timlin , Adam Hollander and John Vielandi of BERNSTEIN LITOWITZ BERGER & GROSSMANN LLP, New York, New York; Francis Bottini, Jr. of BOTTINI & BOTTINI INC., La Jolla, California; Juan E. Monteverde and James Wilson, Jr. of FARUQI & FARUQI LLP, New York, New York; Counsel for Lead Plaintiff.

Tamika Montgomery-Reeves and Bradley D. Sorrels of WILSON SONSINI GOODRICH & ROSATI, PC, Wilmington, Delaware; Steven M. Schatz , David J. Berger and Katherine L. Henderson of WILSON SONSINI GOODRICH & ROSATI, PC, Palo Alto, California; Counsel for Defendants TIBCO Software Inc., Vivek Ranadivé, Nanci Caldwell, Eric Dunn, Manuel A. Fernandez, Phillip Fernandez, Peter Job, David J. West and Philip Wood.

Gregory P. Williams , Anne C. Foster and J. Scott Pritchard of RICHARDS, LAYTON & FINGER, P.A., Wilmington, Delaware; Yosef J. Riemer , P.C., Matthew Solum , David S. Flugman and Shireen A. Barday of KIRKLAND & ELLIS LLP, New York, New York; Counsel for Defendants Balboa Intermediate Holdings, Balboa Merger Sub, Inc., and Vista Equity Partners V, L.P.

Kevin G. Abrams and J. Peter Shindel, Jr. of ABRAMS & BAYLISS LLP, Wilmington, Delaware; Paul Vizcarrondo, Jr. , Carrie M. Reilly , Steven Winter and Luke M. Appling of WACHTELL, LIPTON, ROSEN & KATZ, New York, New York; Counsel for Defendant Goldman, Sachs & Co.


MEMORANDUM OPINION

BOUCHARD, C.

I. INTRODUCTION

In this action, a stockholder of TIBCO Software Inc. ("TIBCO" or the "Company") challenges the per-share consideration that Vista Equity Partners V, L.P., a private equity fund, agreed to pay in a recently announced merger (the "Merger") in which TIBCO stockholders currently stand to receive $24.00 in cash per share. In its press release announcing the Merger, TIBCO stated that the transaction, at...

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