Braze, Inc. shares ended Tuesday at $45.57 after a 51.7% jump, still below Salesforce's $47.50 cash offer per eligible Class A share as the proposed acquisition awaits approvals.
The marketing software company's stock had finished Monday at $30.04. Tuesday's closing price was $1.93 below the proposed payment to eligible Class A shareholders if the deal closes.
Salesforce announced its agreement to acquire Braze on Oct. 20, valuing the business at about $5.66 billion in enterprise value. That figure is distinct from the cash payment to shareholders. Salesforce said it expects Braze's technology to help Marketing Cloud tailor customer communications.
The companies expect to close the deal during Salesforce's fiscal 2028, provided Braze shareholders approve it and the remaining regulatory and customary conditions are met.
