The merger arbitrage spread between the current price and $38.50 offer should be monitored for regulatory and shareholder approval risks. The deal is expected to close before year-end 2026, providing a clear timeline for convergence.
Price Chart
Executive Summary
LiveRamp filed a DEFA14A containing customer/partner emails regarding its definitive agreement to be acquired by Publicis Groupe for $38.50/share in an all-cash transaction valued at $2.5B equity value. The filing is management's soliciting material supporting the merger vote, with CEO Scott Howe emphasizing business continuity and the transaction's expected close before year-end 2026.
Key Facts
- LiveRamp entered into a definitive agreement to be acquired by Publicis Groupe for $38.50/share in an all-cash transaction valued at $2.5B equity value (30% premium to May 15 close).
- Transaction expected to close before year-end 2026, subject to regulatory approvals, shareholder approval, and other closing conditions.
- Following close, LiveRamp will operate as an independent business within Publicis, with Scott Howe continuing as CEO.
- This DEFA14A contains customer/partner emails sent on May 17, 2026, soliciting support for the merger.
- The prior 8-K (May 18, 2026) reported Q4 FY26 revenue of $206M (+9% YoY) and non-GAAP EPS of $0.52.
Financial Impact
All-cash acquisition at $38.50/share, representing a 30% premium to the May 15 close and a $2.5B equity value.
Risk Factors
- Failure to obtain required regulatory approvals or shareholder approval could cause the transaction to fail or be delayed.
- Potential competing bids or litigation could disrupt the deal timeline or terms.
- Integration risks post-close, though LiveRamp will operate independently within Publicis.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| DEFA14A Filing (Primary) | 0001104659-26-063020 |
| Document: 0001104659-26-063020-index-headers.html | 0001104659-26-063020 |
| Document: 0001104659-26-063020-index.html | 0001104659-26-063020 |
| Document: 0001104659-26-063020.txt | 0001104659-26-063020 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 20, 2026 6w ago | 8-K | $37.58 $37.61 | ▲ +0.08% | ▲ +0.61% | $37.67 (+0.25%) |
Aug 17, 2026 6w ago | 8-K | $37.43 $37.87 | ▲ +1.18% | ▲ +2.92% | $37.67 (+0.65%) |
Aug 10, 2026 7w ago | DEFA14A / 8-K | $37.75 $37.74 | ▼ −0.03% | ▲ +0.89% | $37.67 (−0.20%) |
Jul 22, 2026 10w ago | Press Release | $37.68 $37.65 | ▼ −0.08% | ▼ −3.39% | $37.67 (−0.01%) |
Jul 6, 2026 12w ago | DEFM14A | $37.54 $37.87 | ▲ +0.88% | ▲ +1.44% | $37.67 (+0.36%) |
Jun 24, 2026 14w ago | PREM14A | $37.45 $37.66 | ▲ +0.56% | ▼ −1.37% | $37.67 (+0.60%) |
Jun 4, 2026 17w ago | DEFA14A | $37.42 $37.54 | ▲ +0.32% | ▼ −1.54% | $37.67 (+0.68%) |
Jun 3, 2026 17w ago | DEFA14A | $37.40 $37.73 | ▲ +0.88% | ▲ +1.88% | $37.67 (+0.74%) |
May 18, 2026 19w ago | DEFA14A | $37.77 $37.61 | ▼ −0.42% | ▼ −2.00% | $37.67 (−0.25%) |
May 18, 2026 19w ago | DEFA14A | $37.77 $37.61 | ▼ −0.42% | ▼ −2.00% | $37.67 (−0.25%) |
US Market Status
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